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Tags: hyundai q4 profits

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Hyundai's Profit Falls 31 Percent
SEOUL, South Korea (AP) — Hyundai Motor Co. said Thursday its net profit in the fourth quarter of 2007 fell 30.6 percent from the same period a year ago due to weakness in the share price of affiliate Kia Motors Corp.

Hyundai Motor, South Korea's largest automaker, earned 338 billion won ($356 million) in the three months ended Dec. 31, the company said in a statement. Hyundai posted net profit of 486.8 billion won in the same quarter a year earlier.

Jake Jang, a Hyundai spokesman, said losses related to the company's stake in Kia Motors and higher corporate taxes were responsible for the steep fall.

Hyundai owns 38.6 percent of Kia, South Korea's second largest automaker. Kia's share price fell about 25 percent in the fourth quarter of 2007 compared with its value in the last quarter of 2006.

The result was worse then expected. The average estimate of eight analysts surveyed by Dow Jones Newswires forecast that Hyundai would post net profit of 517.48 billion won ($544.9 million).

Sales during the quarter rose 15 percent to 8.74 trillion won ($9.2 billion) from 7.58 trillion won a year earlier.

Analysts had forecast sales of about at 8.64 trillion won ($9.1 billion).

Shares in Hyundai, which released earnings results before the stock market closed, rose 2.3 percent to $74 about 30 minutes before the close.
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Hyundai's Profit Falls 31 Percent



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HyundaiHyundai - 1/24/2008 12:39:23 PM
+1 BoostDrop the Boost Up the Boost
Where's NEWBEGINNING?!?!?!!?

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Htay7500Htay7500 - 1/24/2008 4:39:42 PM
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crying in the corner...


NewBeginningNewBeginning - 1/24/2008 5:45:29 PM
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idiot!


http://www.forbes.com/markets/feeds/afx/2008/01/24/afx4568449.html


NewBeginningNewBeginning - 1/24/2008 6:20:20 PM
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Another brainless propaganda from Toyota sponcored Autospies.com




PorschinatorPorschinator - 1/24/2008 7:42:43 PM
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Autospies propoganda? I guess you did not notice the article was submitted by a member not the staff smart guy...lol.


RealitySmackRealitySmack - 1/24/2008 12:49:55 PM
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AnthonyAnthony - 1/24/2008 2:20:39 PM
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Well, as Hyundai swells into a larger corporation, they will acquire higher corporate taxes. Also probably a factor is how much money they spent on the development of the Genesis. They will either bounce back with Genesis sales, or look to sell off Kia if this continues.

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pushrod27pushrod27 - 1/24/2008 5:29:13 PM
0 BoostDrop the Boost Up the Boost
who buys hyundais anyway? the same people who wear payless shoes?

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Htay7500Htay7500 - 1/24/2008 7:37:42 PM
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some people cann't really afford toyota or honda so they try to get something for less. they're actually decent cars for a temp time.


PorschinatorPorschinator - 1/24/2008 7:41:18 PM
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How much temp time? hehe


NewBeginningNewBeginning - 1/24/2008 8:39:29 PM
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10 years


S4cabriofoxoneS4cabriofoxone - 1/24/2008 5:34:58 PMView My AgentSpace
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"Hyundai owns 38.6 percent of Kia, South Korea's second largest automaker."

Interesting. I had always thought they owned 100% of Kia.

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HyundaiHyundai - 1/25/2008 12:46:55 AM
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I find that interesting too. I thought Kia was 100% owned by Hyundai as well.

Realistically, the Genesis sales should do extremely well and should get them back in the clear with its sales and the positive effect it will have on the brand's image.


huu76huu76 - 1/24/2008 6:38:05 PM
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It's pretty simple business.

Low prices and 0% interest plus unions striking every quarter will bleed you dry. This is just a precursor to where BMW will be in a year or so.

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VISOVISO - 1/25/2008 5:39:30 PM
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Barely making profits. Sales at BMW increase, but their net profit per unit is flat and declining compared to their competitors. BMW is the lowes in per net profit per unit. They need to fix it quick. Today they announced that they are demanding a 15 to 20 per-cent discount from their suppliers. They have serious competitive cost issues to deal with. MB will have the same problems unless they nip it now. They are now too small as a single company.

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huu76huu76 - 1/28/2008 12:24:54 AM
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Check this out, its for the first 9 months of 2007.
Pages 4, 6, 10 and 11 pretty much tell us what BMW's trying to hide.

Sales volume goes up.
Gross profit goes up.
Net inflows from financial activities goes up drasticailly (nearly 400%).

Somehow net profit dropped by 2%.

I wonder if it has anything to do with ever cheaper models and low finance/lease rates to inflate your volume?

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huu76huu76 - 1/28/2008 12:25:55 AM
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Oops, I guess you'll need thi

http://www.bmwgroup.com/bmwgroup_prod/e/0_0_www_bmwgroup_com/investor_relations/finanzberichte/zwischenberichte/2007/0907/_pdf/BMWGroup_Q3.pdf

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huu76huu76 - 1/28/2008 12:27:46 AM
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Page 13 shows that the 1 and 3 series make up over 50% of BMW's volume, and only the 3 and X5 had volume increases.

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