Hyundai Mobis’s Q3 net income up 29.4% y/y to USD483.4 million

Electrification solutions drove the Korean supplier performance in Q3

Hyundai Mobis has reported 29.4% y/y increase in net income to KRW582 billion (USD483.4 million) in the third quarter ended 30 September 2019, the leading automotive supplier from South Korea said in a regulatory filing. Sales in the quarter increased 12.1% y/y to KRW9.44 trillion. Higher sales also helped Hyundai Mobis to achieve 30.6% y/y growth in operating profit to KRW604 billion resulting in operating profit margin of 6.4% compared with 5.5% during the same period a year earlier.