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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 7,135.04 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 8,380.84 won per share.

EPS decreased 5.5% year over year from 7,549.48 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 681.66 billion won, a decline of 5.5% from 721.34 billion won in the prior-year period.

The normalized profit margin declined to 7.9% from 8.3% in the year-earlier period.

Total revenue increased year over year to 9.067 trillion won from 8.689 trillion won, and total operating expenses rose 5.5% year over year to 8.377 trillion won from 7.939 trillion won.

Reported net income declined 14.9% on an annual basis to 719.11 billion won, or 7,527.03 won per share, from 844.59 billion won, or 8,839.46 won per share.

As of May 15, US$1 was equivalent to 1,083.65 South Korean won.