Sales reach 1.25 trillion won on enterprise IT strength
Hyundai Autoever reported sales of 1.25 trillion won ($853 million) and operating profit of 90.5 billion won for the second quarter, the company disclosed Wednesday. Sales rose 20 percent from a year earlier and operating profit climbed 11.3 percent.
The enterprise IT segment posted second-quarter sales of 1.04 trillion won, up 27.9 percent year-on-year. The segment covers two business lines: SI (system integration) and ITO (IT outsourcing). Hyundai Autoever said growth was driven by rising cloud demand from customers and support provided during next-generation enterprise resource planning (ERP) system migrations.
The vehicle software segment recorded sales of 212.3 billion won, down 7.8 percent from the same period last year. Growth in the segment has slowed due to the continued impact of US tariffs and geopolitical risks that have persisted since last year.
Overseas subsidiaries delivered broad-based sales growth across major regions in the first half of this year — the Americas, Europe, India and China. The company attributed the gains to expanded IT investment by customers and an increase in connected car service (CCS) subscribers.
The operating profit margin came in at 7.2 percent, down 0.6 percentage points from a year earlier.
eyre@heraldcorp.com
