1. Homepage
  2. Equities
  3. Korea, republic of
  4. Korea Stock Exchange
  5. Hyundai Motor Company
  6. News
  7. Summary
    A005380   KR7005380001

HYUNDAI MOTOR COMPANY

(A005380)
  Report
End-of-day quote Korea Stock Exchange  -  2022-08-11
196000.00 KRW   +1.55%
08/12Hyundai Steel, 10 Others Fined $197 Million Over Price Fixing
MT
08/11EU, South Korea say U.S. plan for EV tax breaks may breach WTO rules
RE
08/11Hyundai Department Store's Net Income Jumps 11.2% in June Quarter
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

SK Innovation shares fall on bleak forecast for battery unit's turnaround

04/29/2022 | 01:53am EDT
FILE PHOTO: The logo of SK Innovation is seen in front of its headquarters in Seoul

SEOUL (Reuters) - South Korean energy group SK Innovation Co Ltd warned its battery unit turnaround could take longer than past guidance indicated, taking the shine off a near-threefold jump in first-quarter profit and sending shares down as much as 5.1%.

The company had been aiming for its loss-making electric car battery maker SK On, which supplies Ford Motor Co and Hyundai Motor Co, to break even by the fourth quarter of this year.

But the division's operating loss widened in the first quarter to 273 billion won ($217 million) from 177 billion won a year earlier and a senior executive said the fourth-quarter target was at risk.

Challenges include cost pressures, surging raw material prices, a global chip shortage and initial ramp-up costs at its U.S. and Hungary factories, SK On Head of Battery Strategy and Planning Office Sunmi Jean said during an earnings call.

SK On's 2022 sales target has been raised by around 1 trillion won to 7 trillion won, she added, citing rising metal prices that were passed on to customers as part of contracts.

Analysts said it had become difficult to pinpoint when SK On would break even amid surprise events such as the Russia-Ukraine war, which could lead to rising electricity costs and logistics headaches for European automakers.

"The market hoped to see the battery unit to reach breakeven sooner, but with everything going on, it would be very challenging. Also, the global competition among rivals has been getting fiercer," said Kang Dong-jin, an analyst at Hyundai Motor Securities.

SK Innovation's overall operating profit jumped 182% to 1.6 trillion won in the January-March quarter, well above analyst expectations for 1.2 trillion won, on the back of strong refining margins at SK Energy, the country's top oil refiner.

SK Energy, which has a total refining capacity of 1.12 million barrels per day at plants in Ulsan and Incheon, said it operated its facilities at 77% of capacity on average in the quarter, up from 63% a year earlier.

Peer S-Oil Corp, whose main shareholder is Saudi Aramco, said on Thursday that Asia's regional refining margins were expected to stay firm in the second quarter, supported by seasonal demand and easing pandemic restrictions amid sustained global supply tightness.

($1 = 1,260.2400 won)

(Editing by Jacqueline Wong, Sherry Jacob-Phillips and Jamie Freed)

By Heekyong Yang and Joyce Lee


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
FORD MOTOR COMPANY 2.21% 16.18 Delayed Quote.-22.10%
HYUNDAI CORPORATION 1.16% 17500 End-of-day quote.4.17%
HYUNDAI MOTOR COMPANY 1.55% 196000 End-of-day quote.-6.22%
HYUNDAI MOTOR SECURITIES CO., LTD. 0.48% 10550 End-of-day quote.-14.57%
LG ENERGY SOLUTION, LTD. -2.44% 460500 End-of-day quote.0.00%
LONDON BRENT OIL -0.51% 97.12 Delayed Quote.27.42%
S-OIL CORPORATION 3.44% 90100 End-of-day quote.5.13%
SAUDI ARABIAN OIL COMPANY -0.86% 40.45 End-of-day quote.24.29%
SK INNOVATION CO., LTD. 0.50% 199500 End-of-day quote.-16.35%
TESLA, INC. 4.68% 900.09 Delayed Quote.-14.83%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -1.43% 60.6183 Delayed Quote.-17.87%
WTI -0.56% 91.148 Delayed Quote.24.73%
All news about HYUNDAI MOTOR COMPANY
08/12Hyundai Steel, 10 Others Fined $197 Million Over Price Fixing
MT
08/11EU, South Korea say U.S. plan for EV tax breaks may breach WTO rules
RE
08/11Hyundai Department Store's Net Income Jumps 11.2% in June Quarter
MT
08/11Hyundai Motor, Kia Receive Order for 3,140 EVs from US Startup Autonomy
MT
08/11MISC Consortium Bags LNG Shipping Charter Deals from QatarEnergy
MT
08/10Korea Shipbuilding Secures $1.5 Billion Order for Seven LNG Carriers for Asian Shipper
MT
08/08Hyundai Motor Group's Eco-Friendly Vehicle Sales Surpass One Million
MT
08/08Kia to recall 105,000 Rio cars in Russia
RE
08/08Indonesia says Tesla strikes $5 billion deal to buy nickel products - media
RE
08/05U.S. automakers say 70% of EV models would not qualify for tax credit under Senate bill
RE
More news
Analyst Recommendations on HYUNDAI MOTOR COMPANY
More recommendations
Financials
Sales 2022 133 278 B 102 B 102 B
Net income 2022 8 181 B 6,27 B 6,27 B
Net Debt 2022 81 624 B 62,6 B 62,6 B
P/E ratio 2022 6,19x
Yield 2022 2,61%
Capitalization 40 999 B 31 427 M 31 427 M
EV / Sales 2022 0,92x
EV / Sales 2023 0,88x
Nbr of Employees 70 388
Free-Float 69,7%
Chart HYUNDAI MOTOR COMPANY
Duration : Period :
Hyundai Motor Company Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends HYUNDAI MOTOR COMPANY
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 27
Last Close Price 196 000,00 KRW
Average target price 258 888,89 KRW
Spread / Average Target 32,1%
EPS Revisions
Managers and Directors
Eui-Sun Chung Vice Chairman & Co-Chief Executive Officer
Chang Jae-hoon Executive Vice President
Albert Biermann Co-President & Director
José Antonio Muñoz Barcelo Co-President & Global Chief Operating Officer
Eon-Tae Ha Co-President & Director
Sector and Competitors
1st jan.Capi. (M$)
HYUNDAI MOTOR COMPANY-6.22%31 427
TOYOTA MOTOR CORPORATION1.40%218 730
VOLKSWAGEN AG-16.43%91 115
MERCEDES-BENZ GROUP AG-9.85%66 836
FORD MOTOR COMPANY-22.10%65 047
GENERAL MOTORS COMPANY-32.66%57 564