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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hyundai Motor and Kia are expected to achieve their best performance in the first quarter by leading global mobility. In particular, Hyundai Motor is expected to rank first in quarterly operating profit of listed companies.
According to the securities industry, Hyundai Motor's operating profit in the first quarter of this year was estimated at 2.6584 trillion won. Sales are 35.2845 trillion won. Compared to 1.9289 trillion won in operating profit and 30.2986 trillion won in sales in the same period last year, it rose 37.8 percent and 16.5 percent, respectively.
The actual announcement of sales and operating profit will be made at the end of this month, but according to the forecast, Hyundai Motor is expected to achieve a record high in terms of first-quarter performance since the new Accounting Standard (IFRS) was introduced in 2010.
Kia, an affiliate, also saw a significant increase in sales and operating profit. Sales in the first quarter of this year were estimated at 22.43 trillion won and operating profit was estimated at 2.1978 trillion won.
The figure is up 22.2 percent and 36.8 percent, respectively, from the same period last year, when sales reached 18.3572 trillion won and operating profit of 1.6065 trillion won. If the figure becomes a reality, Kia will mark the first year that its operating profit in the first quarter surpassed 2 trillion won since the introduction of IFRS.
Hyundai and Kia's operating profit is estimated at 4.8562 trillion won.
Meanwhile, according to the operating profit ranking in the first quarter of last year, Samsung Electronics ranked 14.1214 trillion won, second-ranked HMM 3.1486 trillion won, third-ranked SK Hynix 2.8596 trillion won, fourth-ranked POSCO Holdings 2.2576 trillion won and fifth-ranked Hyundai Motor 1.9289 trillion won.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
