Hyundai Motor Company 2013AnnualBusiness Resultshmc/documents… · Appendix Sales Summary ... Mkt....

Hyundai Motor Company2013 Annual Business ResultsJanuary 23, 2014

Cautionary Statement with Respect to Forward-Looking Statements

In the presentation that follows and in related comments by Hyundai Motor’s management, our useof the words “expect,” “anticipate,” “project,” “estimate,” “forecast,” “objective,” “plan,” “goal,”“outlook,” “target,” “pursue” and similar expressions is intended to identify forward lookingstatements.

The financial data discussed herein are presented on a preliminary basis before the audit fromIndependent Auditor; final data will be included in HMC’s Independent auditors report. While thesestatements represent our current judgment on what the future may hold, and we believe thesejudgments are reasonable, actual results may differ materially due to numerous important factors.Such factors include, among others, the following : changes in economic conditions, currencyexchange rates or political stability; shortages of fuel, labor strikes or work stoppages; marketacceptance of the corporation’s new products; significant changes in the competitive environment;changes in laws, regulations and tax rates; and the ability of the corporation to achieve reductions incost and employment levels to realize production efficiencies and implement capital expenditures atlevels and times planned by management.

We do not intend or assume any obligation to update any forward-looking statement, which speaksonly as of the date on which it is made.

Sales Summary

Financial Summary

Revenue & Profit Analysis

Table of ContentsTable of Contents

Appendix

Sales Summary

◇ Retail Sales

◇ Wholesale

2012 2013

1

4,6214,392

2012

1,027847405444

1,8281,731

2013

+5.2%

641667

721703

+2.5%△4.0%

+21.2%

△8.8%

+5.6%

4,732 (7.3%↑yoy)

E U China

Korea

US

Others

Source : Company data (Includes shipment of LCV / Excludes CKD sales)

(Unit : 1,000 vehicles)

Sales Summary : Retail Sales

Global Retail SalesGlobal Plant Sales

294 269

145134

52

2012 2013

CV RV PC

575 590

128 131

2012 2013RV PC

2

393 345

112 135

162 161

2012 2013

CV RV PC

47.3% 46.4%

M/S

667 641-4.0%

4.9% 4.6%

703 721+2.5%

3.5% 3.3%

444 405-8.8%

M/S M/S

Source : Company Data / Automotive News / ACEA

Sales Results by Key Region

Korea US EU


■ Reduction in market demand (10.3%↓) and aged modelscaused decrease in sales

■ RV sales portion increased (20.1%↑) with Santa Fe

■ Strong sales of Elantra(MD 218,429 / 21%↑yoy)

■ 54% of Industry Avg. Incentive(’13.1~4Q Avg. : $1,377/unit)

■ Due to the decrease in market demand(2.0%↓), the sales has decreased.

■ Pursue qualitative growthover quantitative growth.

45 27

167 225

229 86 104

303 304 361 399

641 633

856 1,031

1,911 1,820

2012 2013

Korea

China

India

US

Czech

Turkey

Russia

Brazil

China CV

3

60.4% 60.2%

17.3% 15.5%

16.3% 17.9%

6.0% 6.4%

2012 2013

CV

RV

Mid

PC

4,4104,732

+7.3%

Sales Summary : Wholesale

Sales Volume by plant Sales Mix by Segment


• Sales volume by plant (Wholesale basis)

◇ Statement of Income

◇ Statement of Financial Position

Financial Summary (K-IFRS)

◇ Cash Flow Highlights

◇ Financial Summary by division

2012 2013 Change

Sales Revenue 84,470 87,308 3.4%Gross Profit 19,502 19,448 △0.3%

Margin (%) 23.1 22.3SG&A 11,061 11,132 0.6%

Portion (%) 13.1 12.8Operating Profit 8,441 8,316 △1.5%

Margin (%) 10.0 9.5Recurring Profit 11,610 11,697 0.7%

Margin (%) 13.7 13.4Net Profit 9,061 8,994 △0.7%

Margin (%) 10.7 10.3Depreciation 1,698 1,769Amortization 823 782EBITDA 10,961 10,867

4

Consolidated Statement of Income

(KRW Billion)

• Consolidated Statement of Income (K-IFRS), Business results of BHMC is accounted in equity income accounting• Operating income presentation adjusted • Net Profit includes non-controlling interest

5

2012 2013 Change

Sales Revenue 84,470 87,308 3.4%

Automotive 71,307 71,535 0.3%

Finance 8,663 9,893 14.2%

Other 4,500 5,880 30.7%

Operating Profit 8,441 8,316 △1.5%

Automotive 6,719 6,413 △4.6%

Finance 1,178 1,120 △4.9%

Other 255 388 52.6%

Consolidation adjustment 289 394 36.3%

Financial Summary by Division

(KRW Billion)

• Consolidated Statement of Income (K-IFRS)

2012 2013 Change

Assets 121,538 133,422 11,884

Current Assets 54,848 58,856 4,009

Cash & Cash Equivalents* 19,143 21,748 2,604

Liabilities 73,620 76,839 3,218

Current Liabilities 32,836 31,920 △916

Short & Long-Term Debt 45,207 47,967 2,760

Provision 7,009 6,906 △103

Equity 47,918 56,583 8,665

Current Ratio (%) 167.0 184.4

Debt / Equity Ratio (%) 94.3 84.8

Net Debt 26,064 26,219

EBITDA / Interest Expense 25.7 x 31.8 x

6

Consolidated Statement of Financial Position

(KRW Billion)

• Consolidated Statement of Financial Position (K-IFRS)• Cash & Cash Equivalents : Cash & cash equivalents + Short-term financial instruments

7

6,759

+ 2,551

+ 8,994 △ 7,270

△ 4,162

6,872

BeginningCash Balance

EndingCash Balance

Net Income

Depreciation /Amortization

Tangible /Intangible Asset

Others

(KRW Billion)

• Consolidated Cash Flow Highlights (K-IFRS) • Above figures includes consolidation adjustments by business division (Automotive / Finance / Others)

Consolidated Cash Flow Highlights

◇ Sales Revenue Analysis

◇ COGS and SG&A

◇ Other Items

Revenue & Profit Analysis

8

Start of Brazil PlantAdditional Capacity at Turkey PlantIncrease in sales portion of RV

4,500 5,880 8,663 9,893

71,307 71,535

2012 2013

84,47087,308 + 2,838

(3.4%↑)

KRW depreciation against the USDUSD / KRW 1,124.9 1,092.8 (△2.9%)

Increase in incentive spending

• BHMC(Chinese Plants) under the equity method• Revenue from each business segment(Auto, Finance, Others) under the consolidated basis

Sales Revenue Positive/ Negative Contributors

(KRW Billion)

Positive Factors

Negative Factors

Sales Revenue Analysis

Automotive Finance Others

9

76.9% 77.7%

2012 2013 2012 2013

+0.8%pt 11,062 11,133+0.6%

2.7%

3.6%

0.3%1.1%

5.3%

2.8%

3.4%

0.2%0.9%

5.4%

COGS and SG&A

SG&ACOGS

(% of Revenue) (% of Revenue, KRW billion)

Provision

Warranties

Mkt. Exp.

Salary

SG&A

Others


10

20132012

243 71 345253

2,5823,057

2012 : 3,169 2013 : 3,381

20132012 20132012


Other Itmes

Other Items

(KRW Billion)

Other Other Income / Expense

Finance Finance Income / Expense Equity Earnings

2014 Business Plan

Total Sales +3.64,732

1,820Korea Plant

DomesticExport

6411,179

4,900

1,872

6821,190

Overseas Plant 2,912

ChinaIndiaUS

TurkeyOthers

1,031633399104745

3,028

+2.9

+6.4+1.0

+4.0

+4.8-5.2-2.3+92.31.7

Change(%)2013 2014 (P)

11

(‘000 Units)

1,080600390200758

2014 Business Plan

• Sales volume by plant (Wholesale basis)

Appendix

◇ Overseas Plant Operations

◇ Statement of Income (Quarterly)

360 412

117 135

165

210

214

274

2012 2013

Elantra Sonata Tucson 기타

222 205

139 194

2012 2013

Sonata Elantra

11

2012 2012 Chg.

Rev. 6,992 7,385 5.6%

2012 2013 Chg.

Rev. 14,519 19,433 34%

399361

856

1,031

Overseas Plant : HMMA & BHMC

US Plant (HMMA) China Plant (BHMC)

Sales Volume Revenue Sales Volume Revenue

(Unit : 1,000 vehicles / KRW Billion)

• Above figures are standalone results base

12

2012 2013 Chg.

Rev. 5,097 4,737 △7%

2012 2013 Chg.

Rev. 1,576 1,816 15%

251 216

135 130

113 110

142 177

2012 2013

i10 i20

Eon Others

633641

318

83

86

2012 2013

Accent i10 i20

86

104


India Plant (HMI) Turkey Plant (HAOS)


Overseas Plant : HMI & HAOS


13

2012 2013 Chg.

Rev. 5,311 5,450 2.6%

2012 2013 Chg.

Rev. 2,855 2,751 △3.6%

131 124

45 35

127 145

2012 2013

i30 ix20 ix35

304303

125 128

100 101

2012 2013

Solaris Rio (Kia)

229225

Czech Plant (HMMC) Russia Plant (HMMR)



Overseas Plant : HMMC & HMMR


14

2012 2013 Chg.

Rev. 414 2,384 -

27

167

2012 2013

HB

167

27

Overseas Plant : HMB

Brazil Plant (HMB)

Sales Volume Revenue



15

2012 2013 2012 vs.20134Q Total 1Q 2Q 3Q 4Q Total

Global Plant Sales 1,227 4,410 1,172 1,219 1,109 1,232 4,732 7.3%

Korea Plant 528 1,911 447 475 403 496 1,820 △4.8%

Overseas Plant 699 2,499 725 744 706 736 2,912 16.5%

Sales Revenue 22,719 84,470 21,367 23,184 20,819 21,938 87,308 3.4%

Gross Profit 5,008 19,502 4,704 5,319 4,604 4,821 19,448 △0.3%

Margin (%) 22.0 23.1 22.0 22.9 22.1 22.0 22.3SG&A 3,175 11,062 2,836 2,912 2,594 2,791 11,133 0.6%

Portion(%) 14.0 13.1 13.3 12.6 12.5 12.7 12.8Operating Profit 1,833 8,441 1,869 2,407 2,010 2,030 8,316 △1.5%

Margin (%) 8.1 10.0 8.7 10.4 9.7 9.3 9.5Recurring Profit 2,533 11,610 2,744 3,195 2,815 2,943 11,697 0.7%

Margin (%) 11.1 13.7 12.8 13.8 13.5 13.4 13.4Net Profit 1,894 9,061 2,088 2,524 2,252 2,130 8,994 △0.7%

Margin (%) 8.3 10.7 9.8 10.9 10.8 9.7 10.3

Statement of Income (Quarterly)


• Consolidated Statement of Income (K-IFRS), Business results of BHMC is accounted in equity income accounting• Operating income presentation adjusted • Net Profit includes non-controlling interest

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