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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] Hyundai Wia reported a provisional operating profit of 52.9 billion won for the third quarter of this year, marking a 22.5% decrease compared to the same period last year, according to a disclosure made on the 25th.
The company's revenue slightly increased by 0.1% year-on-year to 2.1012 trillion won. However, it recorded a net loss of 11.3 billion won, indicating a return to deficit.
The decline in operating profit was primarily attributed to reduced vehicle sales, which led to a decrease in the sales volume of modules and constant velocity joints. Additionally, there was an increase in recognized labor costs during the period.
On the positive side, the revenue boost was supported by an increase in engine production volume both in South Korea and China, along with a rise in exports of defense-related items.
Breaking down the business segments, Hyundai Wia's mobility division reported revenues of 1.9145 trillion won and operating profits of 42.5 billion won. In contrast, the machine tools and special machinery segment had revenues of 186.7 billion won and operating profits of 10.4 billion won.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
