hyundai mobis investor presentation

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Dow futures, nasdaq futures, russell 2000 futures, bitcoin usd, cmc crypto 200, hyundai mobis logs record usd 9.2 billion overseas orders in 2023.

Achieved core auto component orders worth USD 9.22 billion ( KRW 12.2 trillion ) from global automakers last year, exceeding the target by 72%

Expanded performance through large-scale orders of electrification components... This year's order target set at USD 9.34 billion

Plans to continuously acquire new customers by focusing on strategic products such as electrification, electrical systems, and chassis, primarily in North America , Europe , and Japan

SEOUL, South Korea , Jan. 29, 2024 /PRNewswire/ -- Hyundai Mobis (KRX 012330) has rewritten the history of overseas orders for global automakers by capitalizing on the 'electrification' trend last year. Surpassing its annual target significantly, Hyundai Mobis has inaugurated the era of overseas orders exceeding KRW 10 trillion . The company plans to continue this momentum, focusing on future mobility core components in its order acquisition strategy this year.

Hyundai Mobis successfully secured orders worth USD 9.22 billion (approximately KRW 12.2 trillion ) from overseas automakers in North America and Europe last year. This achievement, a 72% increase over the initial target of USD 5.36 billion , marks the company's highest-ever order performance.

The explosive increase in Hyundai Mobis' overseas orders last year was significantly attributed to securing multi-trillion won orders for electrification components from European automakers. Hyundai Mobis succeeded in obtaining an order from German automotive brand last year for the Battery System Assembly (BSA), a key electrification component. This battery system is slated for integration into the German automaker's next-generation electric vehicle platform. Hyundai Mobis plans to establish a new production base near the automaker's factory in Europe to ensure a stable supply of components.

Hyundai Mobis has built continuous trust with various global major automakers. The customer trust, stable mass production quality, and local production operations have led to remarkable overseas order achievements.

Sustained and proactive investment in research and development has also been a critical factor in boosting overseas order performance. Hyundai Mobis' R&D investment last year reached KRW 1.59 trillion , an increase of about 16% from the previous year. The company increases its R&D expenditure annually, securing differentiated product competitiveness in core future mobility areas such as electrification, autonomous driving, and connectivity.

This year, Hyundai Mobis plans to actively pursue new customers overseas, focusing on strategic components such as electrification, electrical systems, lamps, and chassis. Centered around key electrification components that have opened the floodgates for large-scale orders, the company intends to strengthen its order portfolio with products incorporating various cutting-edge technologies, including Augmented Reality Head-Up Displays (AR-HUD), Advanced Driver Assistance Systems (ADAS), independent rear-wheel steering systems (RWS), and rollable displays. Hyundai Mobis has set an ambitious target of USD 9.34 billion for core auto component orders from global automakers this year, aiming to continue last year's robust momentum.

To tighten its grip on overseas orders, Hyundai Mobis actively engaged in aggressive sales activities at CES 2024 earlier this month, meeting with various global customers. At this year's CES, Hyundai Mobis set up a dedicated space for customers, showcasing 20 types of mobility technologies immediately applicable to mass production, including transparent displays and 22Kw integrated charging control modules (ICCU).

About Hyundai Mobis

Hyundai Mobis is the global no. 6 automotive supplier, headquartered in Seoul, Korea . Hyundai Mobis has outstanding expertise in sensors, sensor fusion in ECUs and software development for safety control. The company's products also include various components for electrification, brakes, chassis and suspension, steering, airbags, lighting, and automotive electronics. Hyundai Mobis operates its R&D headquarters in Korea, with four technology centers in the United States , Germany , China and India . For more information, please visit the website at http://www.mobis.co.kr/

Media Contact

Choon Kee Hwang: [email protected] Myong Sun Song: [email protected]

View original content to download multimedia: https://www.prnewswire.com/news-releases/hyundai-mobis-logs-record-usd-9-2-billion-overseas-orders-in-2023--302046382.html

SOURCE Hyundai Mobis

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Hyundai Mobis Co.,Ltd

Kr7012330007, auto, truck & motorcycle parts.

• Hyundai Mobis : 2022 Annual Consolidated Financial Statements Audit Report

HYUNDAI MOBIS CO., LTD.

AND ITS SUBSIDIARIES

Consolidated Financial Statements

For the year ended December 31, 2022

With the Independent Auditor's Report

Ernst & Young Han Young

2-4F,6-8F, Taeyoung Building, 111, Yeouigongwon-ro,

Yeongdeungpo-gu, Seoul 07241 Korea

Tel: +82 2 3787 6600

Fax: +82 2 783 5890 ey.com/kr

Independent Auditor's Report

(English Translation of a Report Originally Issued in Korean)

The Shareholders and Board of Directors

We have audited the accompanying consolidated financial statements of HYUNDAI MOBIS CO., LTD. and its subsidiaries (collectively referred to as the "Group"), which comprise the consolidated statement of financial position as of December 31, 2022, and the consolidated statement of profit or loss, consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the year then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies.

In our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as of December 31, 2022, and its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with International Financial Reporting Standards as adopted by the Republic of Korea ("KIFRS").

Basis for Opinion

We conducted our audit in accordance with Korean Standards on Auditing ("KSA"). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the consolidated financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the consolidated financial statements in the Republic of Korea, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matter

Key Audit matters are those matters that, in our professional judgement, were of most significance in our audit of the consolidated financial statements of the current period. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. For each matter below, our description of how our audit addressed the matter is provided in that context.

(Key audit matter 1) Appropriate cut-off of sales recognition for A/S parts

As described in Note 3-(20) and 4 to the consolidated financial statements, the Group is engaged in A/S parts business of significant scale, and recognizes the related consideration as revenue when control of goods is transferred in a contract with a customer. The Group's sales of A/S parts business are transacted with various customers, and the timing of revenue recognition may differ depending on the contract with the customer, and thus, the inherent risk of cut-off of revenue recognition is high. Therefore, we identified the appropriate cut-off of sales recognition for A/S parts as a key audit matter in consideration of the significance of sales of A/S parts business in the Group's revenue and the significant risk of misstatement in the cut-off of revenue recognition, which may occur depending on the terms of contracts with various customers.

A member firm of Ernst & Young Global Limited

The audit procedures performed with regard to the key audit matter are as follows:

• Review the time when control is transferred on the basis of revenue recognition under KIFRS by reviewing the Group's major contract terms and conditions.
• Obtain an understanding of the Group's policies, processes and internal control procedures related to sales of A/S parts.
• Compare the accounting records and original documents for sales transactions in the A/S parts business that occurred before and after the end of the reporting period.

(Key audit matter 2) Measurement of inventory valuation allowance

As described in Note 3-(8) and 9 to the consolidated financial statements, the Group recognized an allowance for inventory valuation of W 227,668 million by measuring inventories at the lower of acquisition cost and net realizable value.

The Group has a variety of inventories, which account for a significant proportion of total assets of the Group. The Group measures the net realizable value of inventories based on various assumptions, such as the non- movement period, forecasted demand, and expected selling price. Therefore, we identified the adequacy of the inventory valuation allowance measurement as a key audit matter in consideration of the significance of inventories in the Group's consolidated financial statements and the significant risk of misstatement that may occur due to the uncertainty of estimates used by management when measuring net realizable value, and the complexity of assumptions.

• Obtain an understanding of the accounting policies and internal control procedures related to inventory valuation allowance measurement.
• Compare the basic data of major accounting estimates used by management with internal and external information.
• Review the results of accounting estimates included in the prior year consolidated financial statements.
• Verify by conducting independent recalculation of inventory valuation allowance.

Other Matter

The consolidated statement of financial position as of December 31, 2021, and the consolidated statement of profit or loss, consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the year then ended, were audited by KPMG Samjong Accounting Corp. in accordance with KSA, whose report dated March 8, 2022, expressed an unqualified opinion thereon.

Responsibilities of management and those charged with governance for the consolidated financial statements

Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with KIFRS, and for such internal control as management determines is necessary to enable the preparation of the consolidated financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the consolidated financial statements, management is responsible for assessing the Group's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Group's financial reporting process.

Auditor's Responsibilities for the Audit of the Consolidated Financial Statements

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with KSA will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.

As part of an audit in accordance with KSA, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group's internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
• Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence and communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should

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Hyundai Mobis Logs Record USD 9.2 billion Overseas Orders in 2023

PR Newswire

SEOUL, South Korea, Jan. 29, 2024

• Achieved core auto component orders worth USD 9.22 billion (KRW 12.2 trillion) from global automakers last year, exceeding the target by 72%
• Expanded performance through large-scale orders of electrification components... This year's order target set at USD 9.34 billion
• Plans to continuously acquire new customers by focusing on strategic products such as electrification, electrical systems, and chassis, primarily in North America, Europe, and Japan

SEOUL, South Korea, Jan. 29, 2024 /PRNewswire/ -- Hyundai Mobis (KRX 012330) has rewritten the history of overseas orders for global automakers by capitalizing on the 'electrification' trend last year. Surpassing its annual target significantly, Hyundai Mobis has inaugurated the era of overseas orders exceeding KRW 10 trillion. The company plans to continue this momentum, focusing on future mobility core components in its order acquisition strategy this year.

Hyundai Mobis successfully secured orders worth USD 9.22 billion (approximately KRW 12.2 trillion) from overseas automakers in North America and Europe last year. This achievement, a 72% increase over the initial target of USD 5.36 billion, marks the company's highest-ever order performance.

The explosive increase in Hyundai Mobis' overseas orders last year was significantly attributed to securing multi-trillion won orders for electrification components from European automakers. Hyundai Mobis succeeded in obtaining an order from German automotive brand last year for the Battery System Assembly (BSA), a key electrification component. This battery system is slated for integration into the German automaker's next-generation electric vehicle platform. Hyundai Mobis plans to establish a new production base near the automaker's factory in Europe to ensure a stable supply of components.

Hyundai Mobis has built continuous trust with various global major automakers. The customer trust, stable mass production quality, and local production operations have led to remarkable overseas order achievements.

Sustained and proactive investment in research and development has also been a critical factor in boosting overseas order performance. Hyundai Mobis' R&D investment last year reached KRW 1.59 trillion, an increase of about 16% from the previous year. The company increases its R&D expenditure annually, securing differentiated product competitiveness in core future mobility areas such as electrification, autonomous driving, and connectivity.

This year, Hyundai Mobis plans to actively pursue new customers overseas, focusing on strategic components such as electrification, electrical systems, lamps, and chassis. Centered around key electrification components that have opened the floodgates for large-scale orders, the company intends to strengthen its order portfolio with products incorporating various cutting-edge technologies, including Augmented Reality Head-Up Displays (AR-HUD), Advanced Driver Assistance Systems (ADAS), independent rear-wheel steering systems (RWS), and rollable displays. Hyundai Mobis has set an ambitious target of USD 9.34 billion for core auto component orders from global automakers this year, aiming to continue last year's robust momentum.

To tighten its grip on overseas orders, Hyundai Mobis actively engaged in aggressive sales activities at CES 2024 earlier this month, meeting with various global customers. At this year's CES, Hyundai Mobis set up a dedicated space for customers, showcasing 20 types of mobility technologies immediately applicable to mass production, including transparent displays and 22Kw integrated charging control modules (ICCU).

About Hyundai Mobis

Hyundai Mobis is the global no. 6 automotive supplier, headquartered in Seoul, Korea. Hyundai Mobis has outstanding expertise in sensors, sensor fusion in ECUs and software development for safety control. The company's products also include various components for electrification, brakes, chassis and suspension, steering, airbags, lighting, and automotive electronics. Hyundai Mobis operates its R&D headquarters in Korea, with four technology centers in the United States, Germany, China and India. For more information, please visit the website at http://www.mobis.co.kr/

Media Contact  

Choon Kee Hwang:  [email protected] Myong Sun Song:  [email protected]

SOURCE Hyundai Mobis

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Home › News Releases › Hyundai Motor announces opening of Hyundai Motorstudio Moscow

Hyundai Motor announces opening of Hyundai Motorstudio Moscow

First overseas Hyundai Motorstudio brand showroom Multi-space experience provides visitors with immersive Hyundai experience Hyundai Motor has officially opened today the Hyundai Motorstudio Moscow, the first new overseas brand space and also Hyundai’s first non-sales showroom in the Russian market. Developed as part of the company’s innovative global Hyundai Motorstudio project, the new facility is … Continued

• By Automotive World
• January 21, 2015
• First overseas Hyundai Motorstudio brand showroom
• Multi-space experience provides visitors with immersive Hyundai experience

Hyundai Motor has officially opened today the Hyundai Motorstudio Moscow, the first new overseas brand space and also Hyundai’s first non-sales showroom in the Russian market. Developed as part of the company’s innovative global Hyundai Motorstudio project, the new facility is located on the prestigious Noviy Arbat street in Russia’s capital city.

Executive Vice President of Hyundai Motor Company, WonHong Cho said in his welcome speech: “Hyundai Motorstudio Moscow is an important initiative for the company as it helps our customers understand what Hyundai Motor stands for, what inspires us and how our cars play an important role in our day-to-day lives. We will create a unique experience that will realize the company’s Modern Premium brand direction.”

The Hyundai Motorstudio Moscow space provides an experience like no other for its visitors. It has five functionally-oriented zones: Event Space, Car Gallery, Brand Collection, Library and Café.

The key design element of the interior space is the gallery, which features a heart-shaped staircase from the first to the second floor, which can also serve as an amphitheater. Two screens on each staircase allow visitors to watch a number of brand films. As a centerpiece to the staircase, an example of Hyundai’s best-selling model in Russia, the Solaris, finished in bright red, will hang from the adjacent wall.

On the first floor of the Hyundai Motorstudio Moscow is the Car Gallery, where visitors can see and learn about the latest innovations from the brand. This zone will also present contemporary art exhibits all inspired by the latest Hyundai design ideas. Visitors with a passion for modern technology can make their ‘dream drive’ come true thanks to the Interactive Car Journey. The system utilizes special screens to create a 180-degree view of the road ahead, as if behind the wheel of their favorite Hyundai.

In addition, brand fans can purchase Hyundai souvenirs, including branded merchandise, die-cast models or items which express the company’s brand direction and aspirations.

Hyundai Motorstudio Library offers visitors a wide collection of different books and magazines to read at their leisure, from glossy lifestyle magazines to unique and specialized automobile books. Gallery guests can choose a publication and read it in the comfort of the Hyundai Motorstudio Café, enjoying a cup of their favorite coffee, soft drink and snacks.

Rigorously-trained consultants, called ‘gurus’, provide customers with information about Hyundai Motor’s history, its models’ design development, as well as show and explain in detail the facility.

Hyundai Motorstudio Moscow is a brand experience center built with exquisite attention to detail, everything from the structure and the interior to its contents. When you step into the studio, the first thing that stands out is the way Hyundai Motor’s story is told. The ongoing engagement of visitors at Hyundai Motorstudio Moscow will allow the company to continue to bring to life the car culture of tomorrow and today.

Hyundai Motorstudio Moscow doors are open for the visitors every day from 10 a.m. to 10 p.m., located on: Noviy Arbat street, 21, Moscow, Russia. More information about Hyundai Motorstudio can be found at: www.motorstudio.hyundai.ru

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