Hanon Systems does not undertake any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Any information expressed herein on this date is for understanding purposes before the audit, and may be subject to change without notice.
2Q 2022: Key Financial Metrics
(KRW in Billions)
2Q22
2Q21
YoY %
1Q22
QoQ %
Revenue
2,107
1,852
13.8%
1,980
6.4%
COGS
1,906
1,627
17.1%
1,802
5.8%
% of Sales
90.5%
87.9%
91.0%
SG&A (Incl. R&D)
140
124
12.8%
148
-5.3%
% of Sales
6.7 %
6.7%
7.5%
EBITDA
198
225
-11.9%
162
22.3%
Margin (%)
9.4%
12.2%
8.2%
Operating Profit
60
100
-40.2%
30
97.2%
Margin (%)
2.9%
5.4%
1.5%
Net Income
15
100
-85.4%
22
-34.5%
Margin (%)
0.7%
5.4%
1.1%
Record high revenue on BEVs and weak KRW; OPM improved QoQ on cost recovery
2
1H 2022: Key Financial Metrics
(KRW in Billions)
1H 2022
1H 2021
YoY Variance
Revenue
4,087
3,721
366
9.8%
COGS
3,708
3,274
434
13.2%
% of Sales
90.7%
88.0%
SG&A (Incl. R&D)
289
252
37
14.4%
% of Sales
7.1 %
6.8%
EBITDA
361
447
-86
-19.3%
Margin (%)
8.8%
12.0%
Operating Profit
91
194
-103
-53.4%
Margin (%)
2.2%
5.2%
Net Income
37
160
-123
-76.9%
Margin (%)
0.9%
4.3%
Revenue on track to yearly guidance; OPM to improve in 2H as material costs peaked out in 2Q
3
2Q 2022 Highlights
2Q22 Highlights
Company reports highest quarterly revenue on eco-friendly programs despite industry headwinds
OPM improves QoQ on cost recovery from customers; OPM to improve in 2H due to easing material cost pressure
Robust New Business Wins from electrified vehicles with industry-leading technologies for BEVs
Sales Breakdown (1H22)
By Region
By Customer
Others
16%
Europe
Korea
BMW 4%
31%
29%
Mercedes 3%
HMG
Stellantis 4%
47%
Asia
GM 6%
VW
Americas
14%
8%
26%
Ford
12%
4
Quarterly Sales
Consolidated Sales
Comments
(KRW in Billions)
2,101
2,107
1,901
1,926
1,980
1,869
1,869
1,704
1,195
2Q22 revenue is the highest quarterly sales in company history
Americas, Europe and Korea YoY revenue up by 36%, 17% and 2% respectively; while China YoY revenue down by 20% due to lockdown
Increase in YoY revenue on production recovery with Ford (+39%), BMW (+37%), Stellantis (+31%), HMG (+12%) and Mercedes (+10%)
Less-than-plannedvolume due to supply disruption in Europe and China with GM (+1%) and VW (+0% YoY)
2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22
2Q Revenue Increase of 14% YoY Driven by Production Recovery from Chip Shortage
5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
Original Link
Original Document
Permalink
Disclaimer
Hanon Systems published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2022 04:23:05 UTC.
Hanon Systems, formerly Halla Visteon Climate Control Corp, is a Korea-based company mainly engaged in the manufacturing and sale of automotive thermal management systems and automotive parts. The Company is principally involved in the production and sale of heating ventilation air conditioning (HVAC) systems, power train cooling (PTC) systems, compressors, fluid transport (FT) systems, battery heat management systems, heat pump systems, high voltage cooling fan motors, radiators, condensers and others used in automobiles. The Company distributes its products within the domestic market and to overseas markets, including China, America and Europe.