Hyundai 4Q Result Weighed down by One-Off Losses; FVE Maintained at KRW 133,000
Hyundai Motor posted disappointing preliminary fourth-quarter results that were below our expectation. While revenue came in at KRW 25.7 trillion, up 4.8 % year on year, the firm delivered an operating income of KRW 501 million, down 35% over the same period last year. While waiting for Hyundai to publish full financials for the quarter, we do not expect to make any material changes to our fair value estimate of KRW 133,000. Hyundai’s shares are fairly valued in our view.As we expected, the aut...
Hyundai Motor is engaged in the manufacture and distribution of motor vehicles and parts. Co.'s passenger automobiles include Accent, Elantra, Sonata, Azera, Genesis, XG and Tiburon. Co.'s recreational vehicles include Santa FE, Tucson, Veracruz and Entourage. Co.'s commercial vehicles include H-1 Truck, Mighty II, 5 Ton Cargo, Tractor, Dump Truck, Aero Town, and Aero Queen.
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