Hyundai Mobis Co., Ltd.

Company Background

South Korea's Hyundai Mobis is an automotive parts affiliate of Hyundai Motor, and one of the world's largest parts-affiliated suppliers. In the past the company produced rail cars and military supplies, but it was spun off to specialize in auto parts. In 2000, the company changed its name to Hyundai Mobis.

The company was established in 1977 as Hyundai Precision Industry by the former Hyundai conglomerate, which was engaged in heavy industry and other businesses. At that time, Chung Mong-koo, the second son of group founder Chung Ju-yung, controlled the company's management. Chung Mong-koo later bolted from the group, taking the automobile operations with him, to become owner and chairman of Hyundai Motor group.

While Chung Mong-koo remains one of the company's major shareholders, Hyundai Motor-affiliated Kia Motors owns the largest amount of shares in the company.

The bulk of Hyundai Mobis' sales are to Hyundai Motor and Kia Motors. To boost earnings, the company aims to increase supply to vehicle makers outside the group.

Hyundai Mobis is also working to diversify revenue sources by supplying replacement parts. In this sector, although there is a need to produce a wider variety of components in smaller quantities than parts used in new cars, the company has built an efficient system of supplying products by contracting with more than 10,000 dealers around the world. The replacement parts division is small in scale, but it boasts high profit margins.

Business Summary

Hyundai Mobis Co., Ltd. engages in the manufacturing of automotive parts and components. It operates in through following business divisions: Module, Core Automotive Parts, Future Automobile Industry, After-Sales Parts, Overseas Original Equipment Manufacturer and Purchasing. The Module division provides chassis module, cockpit module and front-end module. The Core Automotive Parts division offers safety products, lighting products, brake system, steering parts, AVNT, UVO system, plastic parts, wheel and deck. The Future Automobile Industry division provides advanced driver assistance system parts and eco-friendly parts. The After-Sales Parts division offers genuine parts and genuine accessories. The company was founded by Mong-Koo Chung on June 25, 1977 and is headquartered in Seoul, South Korea.

Financial Highlights

Dec 2022	KRW	USD
Revenue	51,906.61B	40,172.24M
Gross Profit	5,987.48B	4,633.90M
Operating income	2,028.11B	1,569.62M
Income before tax	2,141.04B	1,657.02M
Net income	2,485.25B	1,923.41M
EBITDA	2,926.17B	2,264.66M
Diluted EPS	27,162.76	21.02
Dividends Per Share	4,000	3.09
Total Assets	55,406.69B	43,817.07M
Total liabilities	17,599.06B	13,917.80M
Total equity	37,799.23B	29,892.63M
Operating cash flow	1,108.78B	858.12M
	Currency in KRW	Currency in USD

Historical Data

KRW | USD

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022
Revenue	35,149.21B	38,048.76B	36,626.50B	41,702.19B	51,906.61B
Gross Profit	4,417.27B	5,229.16B	4,704.23B	5,264.54B	5,987.48B
Operating income	2,024.01B	2,359.37B	1,830.38B	2,038.88B	2,028.11B
Income before tax	2,474.88B	2,505.40B	1,742.50B	2,272.29B	2,141.04B
Net income	1,888.80B	2,290.67B	1,529.14B	2,352.28B	2,485.25B
EBITDA	2,737.46B	3,176.20B	2,680.63B	2,874.97B	2,926.17B
Diluted EPS	19,944.99	24,233.30	16,389.18	25,644.64	27,162.76
Dividends Per Share	4,000	4,000	4,000	4,000	4,000
Total Assets	43,071.13B	46,606.06B	48,497.67B	51,482.53B	55,406.69B
Total liabilities	12,367.70B	14,196.44B	15,169.55B	16,125.06B	17,599.06B
Total equity	30,630.49B	32,330.01B	33,252.66B	35,273.02B	37,799.23B
Operating cash flow	2,387.20B	2,748.27B	2,379.60B	1,540.95B	1,108.78B

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022
Revenue	31,938.79M	32,626.71M	31,042.36M	36,416.06M	40,172.24M
Gross Profit	4,013.81M	4,483.99M	3,987.02M	4,597.21M	4,633.90M
Operating income	1,839.14M	2,023.15M	1,551.32M	1,780.44M	1,569.62M
Income before tax	2,248.83M	2,148.37M	1,476.83M	1,984.26M	1,657.02M
Net income	1,716.28M	1,964.24M	1,296.00M	2,054.11M	1,923.41M
EBITDA	2,487.43M	2,723.58M	2,271.93M	2,510.54M	2,264.66M
Diluted EPS	18.12	20.78	13.89	22.39	21.02
Dividends Per Share	3.63	3.42	3.39	3.49	3.09
Total Assets	38,601.12M	40,300.97M	44,644.82M	43,308.12M	43,817.07M
Total liabilities	11,084.15M	12,275.88M	13,964.42M	13,564.72M	13,917.80M
Total equity	27,451.59M	27,956.26M	30,610.94M	29,672.36M	29,892.63M
Operating cash flow	2,169.16M	2,356.64M	2,016.80M	1,345.62M	858.12M

Valuation Measures

Dec 2022
PER	7.38
ROA	4.65%
ROE	6.80%
Operating margin	3.90%
Profit margin	4.78%

Key executives

Chairman & Co-Chief Executive Officer: Eui-Sun Chung
President, Co-Chief Executive Officer & Director: Sung-Hwan Cho
Director, Vice President & Head-Finance: Hyung-Geun Bae
Director, Managing Director, Head-R&D Strategy: Yeong-Seok Ko
Managing Director, Head-Compliance & IP: Joon-Wu Choi

Shareholders

Kia Corp. (17.4%)
National Pension Service of Korea (8.4%)
CHUNG MONG KOO (7.1%)
Hyundai Steel Co. (5.8%)
Hyundai Mobis Co., Ltd. (3.3%)
The Vanguard Group, Inc. (1.7%)
First Eagle Investment Management LLC (1.6%)
KT Corp. (1.4%)
BlackRock Fund Advisors (1.4%)
Samsung Asset Management Co., Ltd. (1.2%)

Contact Details

Website:http://www.mobis.co.kr
Address: 203 Teheran-ro, Gangnam-gu, Seoul, 06141, South Korea
Phone: +82.2.2018.5114

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Competitors

Magna International Inc.
HL Mando Co., Ltd.
Duckyang Ind. Co., Ltd.
Visteon Corporation
Autoliv Inc.
Aptiv PLC
Loop Energy, Inc.
Hyundai Wia Corporation
Hanon Systems

Last Updated on 1 Jun, 2023