H Business Result

Transcription

1 H Business Result

2 H business result is prepared for investors consideration only before completion of independent auditors review. Therefore, parts of contents on this material could be changeable during independent auditors review. 1

3 Contents I. H Overview II. Market analysis III. Performance analysis IV. Financials - Income Statement V. SYMC s Focus in H

4 H Overview SUV Market Continued SUV market demand growth : Domestic +12.9% (vs. H1 2015) Domestic SUV-B (Small SUV) segment : +40.5% (vs. H1 2015) Overseas : Growth in Europe & China Tivoli Brand Tivoli Brand : Continuous vehicle sales increase (40,752 vehicles, +50.9% vs. H1 2015) Tivoli Air/XLV : Successful launch in March The best selling vehicle among small SUVs in Korea : 59% portion out of small SUV segment SYMC Operating profit for 3 consecutive quarters (Q2 2016: 19.3 bn krw, OP margin : 2.0%) H : Operating profit 27.4 bn krw ( OP margin : 1.5%) PAT 20.4 bn krw (PAT margin : 1.1%) 3

5 Domestic Market Trend Quarterly market trend (Including imported cars) 22.7% 22.3% 23.1% 425K 58K 23K 97K PC SUV MPV Commercial SUV M/S 398K 49K 33K 89K 455K 62K 29K 105K 25.6% 404K 58K 29K 103K 28.4% 27.4% 29.0% 454K 62K 35K 129K 446K 56K 33K 122K 531K 60K 33K 154K 27.0% 424K 59K 28K 115K 28.9% 510K 65K 30K 147K Q (vs. Q2 2015) - Total market : +12.5% (Domestic makers : +14.4%, Imported : -0.2%) - PC : +17.2% - SUV : +14.4% Continued strong demand (ex> Small SUVs) New car effects : Tivoli Air, Sportage - MPV : -12.3% - SUV M/S : 28.9% (0.5%p vs. Q2 2015) - SYMC Market share in total market Q : Q = 5.4% : 5.5% 248K 227K 259K 214K 228K 234K 283K 223K 267K H (vs. H1 2015) - Total market : +9.0% (Domestic makers : +10.9%, Imported : -2.6%) - PC: +10.9%, SUV: +12.9%, MPV: -8.0% Q Q Q Q Q Q Q Q Q SYMC market share in total market H : H = 5.3% : 5.4% Unit: vehicles (Imported cars PC, SUV, MPV) 4

6 Overseas Market Trend Europe (28 Countries) Russia Jan.~May ,911K (21.1%) 1,266K 634K 5,988K Jan.~May K (34.8%) 224K 22K 642K Jan.~May ,083K (24.3%) 1,584K 643K 6,521K Jan.~May K (37.1%) 203K 15K 547K - Total market : +8.9% - SUV market : +25.2% - Total market : -14.7% - SUV market : -9.2% China (22.9%) Jan.~May 2015 Jan.~May ,928K 4,587K 2,214K 903K (30.9%) 3,155K 1,038K 9,675K 10,214K - Total market : +5.6% - SUV market : +42.5% Unit : Vehicle Source : Automotive News, Jato Excluding commercial vehicles ( ) : SUV portion out of total market PC SUV MPV Others 5

7 SUV Market Trend Korea Europe (28 Countries) K 34K 69K 85K 15K +41% +12% +3% +10% 227K 48K 76K 87K 16K H H ,266K 370K 634K 170K 92K Jan.~May % +26% +15% +35% 1,584K 470K 795K 195K 124K Jan.~May 2016 Total SUV market : +12.8% SUV-B market : +40.5% (Small SUV) - Portion out of SUV market : 16.9% 21.0% Total SUV market : +25.2% SUV-B market : +26.8% (Small SUV) - Portion out of SUV market : 29.3% 29.6% Unit : Vehicle Source : SYMC, Automotive News Korea : excluding imported car ( ) : Example SUV-B SUV-C SUV-D SUV-E (Tivoli) (Korando C) (Rexton) 6

8 SYMC Sales Volume in Q ,885 12,582 (34%) +11% +2% 40,911 12,837 (31%) Sales volume increase - Total Sales : +4,026 units (+11%) Domestic : +3,771 units (+16%) Export : +255 units (+2%) Domestic portion increase : +3%p - Q : Q = 66% : 69% 24,303 (66%) +16% 28,074 (69%) Export by region - ME & AF : +28%, South America : +19% Q Q Domestic Export Tivoli brand sales increase - Monthly avg. : 7,799 units (Domestic : 5,525 units, Export : 2,274 units) Unit: vehicle (including CKD) 7

9 Region-wise Export in Q W. Europe 45% 44% E. Europe Including: Russia % out of export sales volume (Including CKD) 0% 2% Q Q Q Q Others Asia Pacific South America Others: ME & AF Including: China 16% 20% 19% 11% 20% 23% Q Q Q Q Q Q

10 SYMC Sales Volume in H ,800 24,390 (35%) +7% -2% 74,577 23,881 (32%) Sales volume increase - Total Sales : +4,777 units (+7%) Domestic : +5,286 units (+12%) Export : -509 units (-2%) Domestic portion increase : +3%p - H : H = 65% : 68% 45,410 (65%) +12% 50,696 (68%) Export by region - ME & AF : +41%, W. Europe : +14% - South America : -17% H H Domestic Export Unit: vehicle (including CKD) Tivoli brand sales - H : 40,752 units (Domestic : 27,969 units, Export : 12,783 units) - Tivoli Air/XLV launch: March

11 Region-wise Export in H W. Europe 43% 50% E. Europe Including: Russia % out of export sales volume (Including CKD) 1% 1% H H H H Others Asia Pacific South America Others: ME & AF Including: China 14% 20% 19% 10% 23% 19% H H H H H H

12 Income Statement(Consolidated) / Q (Unit: billion krw) Category Q Q Change Change(%) Sales % Cost of sales % Gross Profit % SG&A % Operating Profit OP margin % -2.4% 2.0% 4.4%p - PBT PAT

13 Operating Costs / Q Cost of sales (%) SG&A expense (%) 85.2% 17.2% -2.6%p 82.6% -1.8%p 15.4% Q Q Q Q (Cost of Sales/Sales)*100 (SG&A expenses/sales)*100 12

14 Income Statement(Consolidated) / H (Unit: billion krw) Category H H Change Change(%) Sales 1, , % Cost of sales 1, , % Gross Profit % SG&A % Operating Profit OP Margin % -3.4% 1.5% 4.9%p - PBT PAT

15 Operating Costs / H Cost of sales (%) SG&A expense (%) 86.0% -3.3%p 82.7% 17.4% -1.6%p 15.8% H H H H (Cost of Sales/Sales)*100 (SG&A expenses/sales)*100 14

16 SYMC s Focus in H Domestic : Focus on Tivoli brand Export volume growth - Tivoli XLV in W. Europe - Iran, Peru, Etc. H Vehicle sales New product launch - Korando Sports 2.2 (Jul., Euro 6 engine) - Tivoli Air/XLV gasoline model (Jul.) Profitability Priority Cost control Efficient cost management Collaboration of vehicle development (platform sharing, engine, etc.) with M&M New car development Rexton FMC : H New car development : One new model every year till 2019 SY auto capital 15