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Hyundai Industrial Q4 profit climbs 11.1% YOY

Hyundai Industrial Co. Ltd. said its fourth-quarter normalized net income amounted to 254.56 South Korean won per share, an increase of 10.8% from 229.73 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.90 billion won, a gain of 11.1% from 3.51 billion won in the prior-year period.

The normalized profit margin climbed to 6.2% from 6.1% in the year-earlier period.

Total revenue increased 8.8% on an annual basis to 62.78 billion won from 57.68 billion won, and total operating expenses rose 10.6% from the prior-year period to 57.61 billion won from 52.09 billion won.

Reported net income decreased 20.1% year over year to 4.54 billion won, or 296.74 won per share, from 5.69 billion won, or 372.48 won per share.

For the year, the company's normalized net income totaled 785.15 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1,076.00 won.

EPS rose 11.4% from 704.55 won in the prior year.

Normalized net income was 12.02 billion won, a gain of 12.7% from 10.67 billion won in the prior year.

Full-year total revenue increased 7.7% from the prior-year period to 213.17 billion won from 198.00 billion won, and total operating expenses grew 7.1% on an annual basis to 194.97 billion won from 181.98 billion won.

The company said reported net income grew year over year to 15.47 billion won, or 1,010.36 won per share, in the full year, from 15.15 billion won, or 1,001.00 won per share.

As of March 13, US$1 was equivalent to 1,145.44 South Korean won.