Kumho HT, 3Q operating profit increased by 91% compared to the previous year… “Performance growth will continue”

Automotive electronics specialist company

Kumho HT

announced on the 15th that its consolidated operating profit in the third quarter of this year reached 3.797 billion won, an increase of 91% compared to the same period last year. During the same period, sales increased by 24% to KRW 114.67 billion, and net profit for the period was KRW 5.203 billion, successfully turning into a surplus. As of the third quarter, consolidated sales amounted to KRW 337.118 billion, up 35% from the previous year, and operating profit increased by 67% to KRW 11.228 billion.

The increase in sales in the third quarter was due to a 35% increase compared to last year in the automotive electronics business. Specifically, exports of rear combination lamps increased by 30%, and exports of daytime running lights also recorded a high growth of 47%. In addition, the continued increase in BMS and BMA sales led to an increase in sales and operating profit. Net profit improved significantly as equity method profits from affiliates increased.

Kumho HT’s performance growth is expected to continue in the future. Kumho HT plans to supply its main products to full-change models of large SUVs starting next year in response to the growing demand for auto parts at home and abroad. Since products using local models in Asia are also scheduled to be mass-produced and supplied at overseas factories, performance is expected to grow significantly.

A Kumho HT official said, “We expect a steady increase in sales due to products that will be supplied to eco-friendly vehicles of major domestic automobile customers and products that will be applied to localized models in the Indian market.” He added, “The unit price of these products will not increase due to new developments and design changes.” “Because it is possible, it will greatly contribute to the company’s profitability.”

He continued, “Based on our plant in Chennai, India, which began mass production last month, we will continue to grow our performance by maximizing sales not only in the world’s third-largest Indian market but also globally,” adding, “We will actively respond to changes in the automobile lamp market due to the expansion of autonomous driving and provide high-resolution pixels.” “We will actively expand new markets such as headlamps and indoor mood lighting for interior functions,” he added.

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