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Hyundai Mobis Q1 profit falls YOY

Hyundai Mobis Co. Ltd. said its normalized net income for the first quarter amounted to 6,334.41 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 7,004.16 won per share.

EPS decreased 12.2% year over year from 7,217.08 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 599.87 billion won, a decrease of 12.2% from 683.00 billion won in the prior-year period.

The normalized profit margin declined to 6.5% from 7.3% in the year-earlier period.

Total revenue totaled 9.268 trillion won, compared with 9.340 trillion won in the prior-year period, and total operating expenses came to 8.599 trillion won, compared with 8.622 trillion won in the prior-year period.

Reported net income fell year over year to 761.15 billion won, or 8,037.39 won per share, from 793.05 billion won, or 8,379.92 won per share.

As of May 15, US$1 was equivalent to 1,116.40 South Korean won.