Hyundai Motor saw its operating profit fall below 2 trillion won in the first quarter of this year, failing to meet market expectations. Its operating profit-to-sales ratio remained in a single-digit figure for three straight quarters.
[ads id=”0″ style=”float:left;padding:9px;”]Hyundai held a management conference call for the first quarter at its headquarters building in Yangje in Seoul’s Gangnam.The company reported that it posted sales of 21.64 trillion won and operating profit of 1.93 trillion won for the quarter.
Year on year, sales and operating profit rose 1.3 percent and 3.7 percent, respectively. Compared to a quarter ago, however, sales and operating profit fell 1.3 percent and 3.7 percent each. These figures are lower than market expectations which were 22 trillion won for sales and 2.02 trillion won for operating profit.
Its operating profit-to-sales ratio stood at 9.0 percent, remaining in single digits for three consecutive quarters. It is up 0.3 percentage point from a year ago but down 0.5 percentage point from a quarter earlier.