Hyundai Motor Securities (001500) Q3 2024 earnings summary

Executive summary

• For the nine months ended September 30, 2024, consolidated pre-tax income was ₩47.1 billion and net income was ₩35.8 billion, down 28% and 33% year-over-year, respectively.

• Operating revenue for the period was ₩1,161.5 billion, a 2% increase year-over-year, driven by higher interest and fee income despite market volatility.

• The company maintained a strong capital position with a net capital ratio of 479.17% as of September 30, 2024.

Financial highlights

• Operating income for the nine months was ₩47.1 billion, down from ₩65.2 billion in the prior year.

• Net income attributable to shareholders was ₩35.8 billion, compared to ₩53.5 billion a year earlier.

• Basic EPS for the period was ₩1,060, down from ₩1,595 year-over-year.

• Total assets at quarter-end were ₩12,515.6 billion, up from ₩11,585.3 billion at the end of 2023.

• Return on equity and return on assets declined in line with lower profitability.

Outlook and guidance

• The company expects continued pressure on IB and asset management segments due to real estate PF and overseas exposure risks.

• Management is focused on risk management, liquidity, and selective investment to ensure sustainable growth.

• New business initiatives in digital, carbon trading, and token securities are being pursued for future growth.