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Halla Holdings Q4 profit falls YOY

Halla Holdings Corp. said its fourth-quarter normalized net income came to 851.27 South Korean won per share, a decline of 21.3% from 1,081.26 won per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 9.08 billion won, a decrease from 9.35 billion won in the year-earlier period.

The normalized profit margin climbed to 4.3% from 4.2% in the year-earlier period.

Total revenue decreased 5.5% year over year to 211.35 billion won from 223.74 billion won, and total operating expenses fell 7.9% from the prior-year period to 188.57 billion won from 204.77 billion won.

Reported net income grew 18.8% on an annual basis to 22.95 billion won, or 2,151.43 won per share, from 19.31 billion won, or 2,234.12 won per share.

For the year, the company's normalized net income totaled 4,899.96 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 6,335.25 won.

EPS rose from 1,497.21 won in the prior year.

Normalized net income was 52.28 billion won, a gain from 22.12 billion won in the prior year.

Full-year total revenue decreased on an annual basis to 892.10 billion won from 918.66 billion won, and total operating expenses declined 8.4% year over year to 796.13 billion won from 868.94 billion won.

The company said reported net income rose on an annual basis to 75.17 billion won, or 7,046.02 won per share, in the full year, from 34.65 billion won, or 2,345.86 won per share.

As of March 10, US$1 was equivalent to 1,203.54 South Korean won.