Hyundai Capital
is...
Investor Presentation Hyundai Capital 2013
Disclaimer
Thes e pres entat ion m aterial s have been prepared by Hyundai Capital Services ., Inc. (“HCS o r t he Company...
Key Highlights 2013
1

• Strong Fundamentals
- Solid profitability: Operating income of KRW 435 billion and ROA of 1.9%
- ...
Committed Shareholder Financial & GE Support History
2

Relationship with Shareholders
- Leading auto maker in Korea

GE C...
Hyundai Motors Group Structure
3

Global OEM creates synergy between “Automotive Division”& “Financial Service Division”
F...
Strategic Integration with HMG
4

Joint marketing efforts between HMG & GHC(Global Hyundai Capital) to maximize efficiency...
Expanding HMG Auto Market Sales Coverage
5

HCS now plays a role of captive finance company covering global market, beyond...
Resilient Economic Growth and Sluggish Demand for New Cars
6

GDP Growth Rate & Unemployment Rate

Key Highlights

2010

2...
Low Risk-focused Product Portfolio
7

Receivables Breakdown by Product
GECK*,
0.7%

Others,
1.8%

Mortgage,
8.8%

Auto Ass...
Good Profitability, albeit Slow Economy
8

Income Statement (KRW Bn)

Key Highlights and Strategy

2010

2011

2012

2013
...
Stable Asset Quality and Conservative Reserve Policy
9

30+ Day Delinquency Rate (%)
Total Asset

Key Highlights and Strat...
Sound Capital Structure Maintained
10

Leverage Trend (KRW Bn)
Total Equity

Key Highlights and Strategy

Total Asset / to...
Diversified Funding by Type, Duration & Region
11

Funding Portfolio by Product

Key Highlights and Strategy
Strategic fun...
Strong Liquidity Position and Well-Spread Debt Maturity
12

Liquidity Profile (Unit: KRW Bn)
Cash

Credit Line

Key Highli...
Appendix
Korean Consumer Finance Market’s Unique Features
13

• Conservative lending environment
- Average auto loan life of 1.5Y (...
Hyundai Capital's Position in the Industry
14

Dominant Position in Industry*

Incomparable Profitability and Sound Asset ...
Committed to Transparent Corporate Governance
15

Board of Directors

• Members : 4 from HMC, 3 from GECC
GECC’s veto righ...
Key Indicators
16

(Unit : KRW Bn, %)

2013

Sum(1,000 unit)

1,164

1,219

1,154

1,394

1,465

1,474

1,411

1,383

HMC/...
Good Profitability, albeit Slow Economy
17

Income Statement (KRW Bn)
K-IFRS

K-GAAP
2008

2009

2010

2011

2012

2013

Y...
Funding by Currency & Outstanding Global Bonds
18

Funding Portfolio by Currency

Outstanding Global Bonds*
Issue Date

Ma...
Credit Ratings & Rationale
19

HCS’ Global Credit Ratings

Credit Rating Rationale
AAA
A+

Baa1(S)

BBB+
("Positive”)

• S...
Overseas Business Highlights
20

HCA

BHAF

HCUK

Biz Model

• Established: 2012

• Established: 2011

• Biz since 2H12

•...
Robust OEM Parent
21

Operating Profit & Margins (Unit: KRW Bn, %)

Revenue by Sector & % of Finance
Auto

9.8%

Finance

...
Investor Relations Contacts
Jungsang Kim, Head of Investor Relations
Phone +82 2 2167 7034
jungsang.kim@hyundaicard.com

S...
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2013년 4분기 ir 자료 en

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2013년 4분기 ir 자료 en

  1. 1. Hyundai Capital is... Investor Presentation Hyundai Capital 2013
  2. 2. Disclaimer Thes e pres entat ion m aterial s have been prepared by Hyundai Capital Services ., Inc. (“HCS o r t he Company ”), sol ely for t h e u s e at t h i s p re s e n t at io n a n d h a ve no t b e e n i n dep en d e n t l y v e r i f i e d . No r ep r es e nt at io n s o r w a r r a n t i es , exp r e s s o r implied, are made as to, and no reliance should be placed on, the accuracy, fairness or completeness of the information presented or contained in this presentation. Neither the Companies nor any of theirs affiliates, advisers or representatives accepts any responsibility whatsoever for any loss or damage arising from any information presented or contained in this presentation. The information presented or contained in this presentation is current as of the date hereof and is subject to change without notice and its accuracy is not guaranteed. Neither the Companies nor any of their affiliates, advisers or representatives make any undertaking to update any such information subsequent to the date hereof. This presentation should not be construed as legal, tax, investment or other advice. Certain information and statements made in this presentation contain “forward-looking statements.” Such forward-looking statements can be identified by the use of forward-looking terminology such as “anticipate,“ “believe,“ “considering,“ “depends,“ “estimate,“ “expect,“ “intend,“ “plan,“ “planning,“ “planned,“ “project,“ “trend,“ and similar expressions. All forward-looking statements are the Companies’ current expectation of future events and are subject to a number of factors that could cause actual results to differ materially from those described in the forward-looking statements. Caution should be taken with respect to such statements and you should not place undue reliance on any such forward-looking statements. Certain industry and market data in this presentation was obtained from various trade associations, and the Companies have not verified such data with independent sources. Accordingly, the Companies make no representations as to the accuracy or completeness of that data, and such data involves risks and uncertainties and is subject to change based on various factors. This presentation does not constitute an offer or invitation to purchase or subscribe for any shares or other securities of the Companies and neither any part of this presentation nor any information or statement contained therein shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. Any decision to purchase shares in any offering of shares of the Companies should be made solely on the basis of the information contained in the offering document which may be published or distributed in due course in connection with any offering of shares of the Companies, if any. The contents of this presentation may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, for any purpose.
  3. 3. Key Highlights 2013 1 • Strong Fundamentals - Solid profitability: Operating income of KRW 435 billion and ROA of 1.9% - Stable asset quality: 30+ day delinquency rate of 2.7% - Strong capital structure: Leverage of 6.6x and capital adequacy ratio of 15.1% • Committed & Capable Shareholder Support - HMC continues to deliver resilient performance(2013 global sales up 7.3% vs 2012) - GE Capital committed to provide financial and operational support • Solid Credit Profiles - Global Ratings: S&P (BBB+)“Positive”, Moody's (Baa1), Fitch (BBB+) - Niche Markets: RAM (AAA), JCR (A+) - Domestic Ratings: AA+ • New Growth Engine: Global Expansion - True captive financing arm, expanding global coverage beyond domestic market
  4. 4. Committed Shareholder Financial & GE Support History 2 Relationship with Shareholders - Leading auto maker in Korea GE Capital’s Financial Support 2013 -GE Capital total investment as of 4Q13 (US$ 1.6bn) - Extensive sales network 2012 - GE Capital extends credit line - Captive finance company 2009 - GE Capital increases its back-up credit Line to US$ 1 bn 2007 - GE Capital provides US$ 871mm in direct funding 2006 - GE Capital provides US$ 600mm back-up credit line 2005 - GE Capital increases its holdings to 43.3% 2004 - GE Capital acquires 38% equity interest in HCS with approximately 80% market share 56.5% - Strong & solid operational base - HMG’s marketing tool - Most successful joint venture - Sole consumer finance channel in Korea 43.3% - Expertise on risk management - Committed financial support - Active involvement in daily operations as well as management
  5. 5. Hyundai Motors Group Structure 3 Global OEM creates synergy between “Automotive Division”& “Financial Service Division” Financial Service Division recognized as a core subsidiary, supporting car sales activities (ie. Marketing) Automotive Division Financial Service Division 1. Auto Captive Finance Sector : Auto Group Growth Driver 2 OEM Hyundai Motors KIA Motors Steel 3 12 Parts Hyundai Steel Hyundai Hysco Hyundai BNG Steel Source: Company data MOBIS WIA Power Tech DYMOS …. ETC Others Glovis (Logistics) Innocean (Marketing) …… 15 • Captive Finance Company, led by HCS • Auto sales consulting and market research company Asia / Pacific HCS (Korea) BHAF (China) India Australia Europe Americas HCA (US) Brazil HCE HCUK (UK) HCG (Germany) Russia 2. Other Finance Sector : Synergy from Financing • X-sell to Auto customers Hyundai Card Commercial Life HMC IB
  6. 6. Strategic Integration with HMG 4 Joint marketing efforts between HMG & GHC(Global Hyundai Capital) to maximize efficiency Synergy creation through leveraging HMG’s vast sales network Global Strategic Partner with HMG HMG Global Sales Growth HMG Sales Innovative Management Reinforce Brand Value (Unit: 10,000) 382 400 710 737 385 Overseas Domestic '06 Eco-mgt System Diverse Product Global Competency Strategic Marketing Partner Overseas 77.7% % '09 '12 77.8% 71.1% 83.8% Global Financial Receivables (Unit: KRW tn) '13 85.4% 44.4 39.2 14.6 19.9 Overseas 20.5 Domestic '06 Overseas 7.5% % Lifetime financial service for drivers '08 '08 '09 '12 19.4% 19.5% 48.0% '13 54.1% On the back of rapidly growing overseas operations, further growth from Auto Finance is expected. * Overseas : HCA, HCUK, BHAF.
  7. 7. Expanding HMG Auto Market Sales Coverage 5 HCS now plays a role of captive finance company covering global market, beyond domestic market coverage 1989 1993 2012 2015 2016 ~ USA KOR UK,CHN CAN, GER Financing Company (Captive finance) Corporation/Office (Advisory) BRA, AUS, RUS, IND +18.5% △4.3% △4.8% Russia UK 1,328 1,574 China 744 744 EU 1,148 1,099 1,261 1,256 Germany 782 782 △0.4% Korea US +17.0% India +3.7% Brazil Aus 2012 2013 (Unit: 1,000 vehicles) 7 manufacturing plants ( ), 6 R&D facilities ( Source: Company data (Retail sales excluding CKD sales). 7,101 7,367 2,709 2012 2013 Worldwide Sales ), 12 direct sales subsidiaries ( ), sales in more than 190 countries globally
  8. 8. Resilient Economic Growth and Sluggish Demand for New Cars 6 GDP Growth Rate & Unemployment Rate Key Highlights 2010 2011 2012 2013 Two years of low GDP growth under 3% GDP Growth Rate 6.1% 3.6% 2.0% 2.8% - Slow recovery, albeit government expenditure Unemployment (yr.) 3.7% 3.4% 3.2% 3.1% increase Slow domestic new car sales Source: Bank of Korea - Absence of new models and increase in imported car sales Domestic Auto Sales (‘000s) - HMG M/S 80% maintained HMC+KMC Market Share 78.2% 79.9% 81.5% 79.4% Continuous GDP growth backed by strong 1,466 1,475 1,411 1,383 government stimulation New model to boost sales 2010 2011 2012 Source: KAMA (Korean Automobile Manufacturer’s Association) 2013 - Full model change of HMC/KMC’s main models (Genesis, Sonata, Sorento)
  9. 9. Low Risk-focused Product Portfolio 7 Receivables Breakdown by Product GECK*, 0.7% Others, 1.8% Mortgage, 8.8% Auto Asset - New Car: decline in volume in 1H13 from the revocation of up-front fee and elevated competition → started recovering from 2H13 P. Loan, 10.3% Used Car, 7.3% Key Highlights and Strategy New Car, 51.5% Lease, 19.5% Non-Auto asset kept within 20% - Mortgage: increased due to government regulation change - Personal Loan: temporary volume increase for profitability Auto related: 78.3% Maintained 8:2 principal for Auto to Non-Auto Total Financial Receivables : KRW 20.4 Tn - Main model’s Full model change and drive in * GECK: GE Commercial Korea merged with HCS in 2012 ** Auto Asset: New Car, Lease, Used Car new car sales volume will increase New Car proportion in asset
  10. 10. Good Profitability, albeit Slow Economy 8 Income Statement (KRW Bn) Key Highlights and Strategy 2010 2011 2012 2013 YoY 2,889 3,125 3,071 2,921 -4.9% Operating Expenses* 2,259 2,466 2,477 2,486 0.4% Operating Revenue* Bad debt expense 145 354 377 453 20.2% Operating income 630 659 595 435 -26.9% Net Income 489 507 437 391 -10.4% Decrease in operating revenue - Up-front fee revocation for new cars - Slowing new car sales and elevated competition Increase in Operating expenses - Increase in bad debt expenses due to stagnant macro economy condition Above industry average ROA (1.9%) * Excluding FX effect ROA ROA 2.8% Reinforce profitability to set base for profit 2.6% 2.2% 1.9% turnaround - More sales volume from economic recovery and 2010 2011 2012 2013 increased auto sales - Competent product and APR to increase sales and reduce expenses
  11. 11. Stable Asset Quality and Conservative Reserve Policy 9 30+ Day Delinquency Rate (%) Total Asset Key Highlights and Strategy Excluding purchased NPL 2.5% Delinquency edged up but without signs of further 2.7% deterioration 2.7% 2.0% 1.6% 2010 2.4%* 2.3% * 2011 2012 - Slight increase, yet still under industry average - Purchased NPL contributing to artificial increase 1H13 - Conservative underwriting policy maintained 2013 * Excludes NPL asset acquired from commercial banks Total reserve increased (over 100% vs. FSS regulatory requirement) Total Reserve (KRW Bn) 2010 2011 2012 2013 Total Reserve* 474 610 665 763 % of Asset 2.5% 3.1% 3.3% 3.7% * Reserve under accounting principles + supplemental reserve Tighten underwriting process and employ more efficient collection strategy to enhance asset quality
  12. 12. Sound Capital Structure Maintained 10 Leverage Trend (KRW Bn) Total Equity Key Highlights and Strategy Total Asset / total Shareholder’s Equity Leverage Regulation < 8X 9.3X 8.3X 7.2X 2,237 2010 2,657 2011 6.6X 3,031 3,235 2012 2013 Capital Adequacy Ratio Maintain dividend payout policy within 2010 Capital Adequacy Ratio * FSS guideline: 7.0% Earnings retained for conservative leverage 2011 2012 2013 13.7% 13.0% 14.5% 15.1% 8.0X in line with FSS guideline
  13. 13. Diversified Funding by Type, Duration & Region 11 Funding Portfolio by Product Key Highlights and Strategy Strategic funding based on market condition ABS, 13.6% - Exploit tightening spread in longer tenor Loans, 8.4% CP, 1.8% • Balance : KRW 17.8 Tn • Long term : 72.1% Bonds, 76.1% • Overseas : 34.6% (change based on curve flattening) - Bond proportion increased to accommodate low interest environment - Market diversification: Australia Kangaroo market debut and 10th Samurai issuance Funding Portfolio by Currency 65.4% KRW 20.9% USD CHF AUD MYR JPY CNY Establish funding portfolio with 4.6% 3.4% 1.4% 3.7% 0.5% Major funding in 2013 • Kangaroo Bond: AUD 250 mm, 4 yr. • Samurai Bond: JPY 25 bn, 2 yr. ABS under 20%, CP under 10%
  14. 14. Strong Liquidity Position and Well-Spread Debt Maturity 12 Liquidity Profile (Unit: KRW Bn) Cash Credit Line Key Highlights and Strategy Short-term Debt Coverage Ratio* 63.5% 69.2% 73.7% 3,808 3,580 3,649 39.1% More Cash for Liquidity Reinforcement ALM based funding: only 28% matures in 1st year 2,365 2,511 2,480 2,345 1,027 1,297 1,100 1,304 2010 2011 2012 2013 1,338 * Short-term Debt Coverage Ratio = (Cash + Unused committed credit line)/ Short-term debt balance Liabilities (Debt) (Unit: KRW Bn) 27.9% 4,953 ~1Y 26.7% 4,735 1-2Y 20.6% 15.2% Keep duration of liability > asset : ALM over 140% Maintain short-term debt coverage ratio over 60% 8.3% 3,653 2,703 1,481 2-3Y 3-4Y 4-5Y 1.3% 230 Over 5Y
  15. 15. Appendix
  16. 16. Korean Consumer Finance Market’s Unique Features 13 • Conservative lending environment - Average auto loan life of 1.5Y (notional life of 36M + amortization structure) - Average down-payment for a car is approximately 30% - Less usage of revolving credit card products • Favorable market environment for captive finance companies - New car dealerships exclusively managed by automakers - Stable second-hand car market: high residual value of used cars • Strong credit infrastructure - Government’s strict regulation on LTV & DTI ratios · Average LTV ratio for mortgages is less than 50% (Commercial Banks) -Well developed credit bureau system
  17. 17. Hyundai Capital's Position in the Industry 14 Dominant Position in Industry* Incomparable Profitability and Sound Asset quality • Industry Assets • Profitability: ROE (Net Income/Equity) HCS Total Industry Asset Size : KRW 45,236 bn HCS 47.5% Others 52.5% 21.3% Others 22.0% 20.3% 14.8% 5.8% Total size of Industry Operating Income: KRW 681 bn 4.6% 4.6% 2009 • Industry Operating Income 5.5% 2010 2011 2012 14.7% 5.3% 3Q13 • Asset Quality: 30+Day Delinquency Rate HCS 57.4% Others 42.6% 3.2% 3.2% 3.2% 2.8% 3.5% 2.5% 1.8% 2009 *Source: Financial Statistics Information System, at end of Sep. 2013 * Installment Finance Industry 1.6% 2010 2.6% 2012 3Q13 2.0% 2011
  18. 18. Committed to Transparent Corporate Governance 15 Board of Directors • Members : 4 from HMC, 3 from GECC GECC’s veto right Risk Control Committee Executive Finance Committee Compliance Review Board • Member : 5 from HMC, 5 from GECC • Member : 4 from HMC, 3 from GECC • Member : 9 from HMC, 7 from GECC • Frequency : Monthly • Frequency : Monthly • Frequency : Quarterly • Function • Function • Function -Determination of risk indicator levels and appropriate course of actions in respect thereof GE Presence -Approval of various operating expenses, Capex, business and funding plans -Formulation and execution of compliance strategy, schemes, and improvements • C-Suite executives: Vice President, Deputy CFO, Deputy CRO, Deputy CMO, Controller • Working level : GE employees also involved in day-to-day operations • Transfer of advanced knowledge in various functions through best practice sharing program
  19. 19. Key Indicators 16 (Unit : KRW Bn, %) 2013 Sum(1,000 unit) 1,164 1,219 1,154 1,394 1,465 1,474 1,411 1,383 HMC/KMC M/S 73.2% 73.6% 76.9% 80.0% 78.1% 79.8% 81.6% 79.4% 13,472 15,130 16,030 16,480 18,788 19,806 20,286 20,397 63.3% 59.9% 56.8% 58.1% 57.2% 57.6% 54.2% 51.5% Auto Lease 14.4% 14.3% 14.8% 15.8% 16.3% 17.3% 18.8% 19.5% Used Car 9.4% 8.0% 8.0% 7.2% 8.4% 7.9% 6.9% 7.3% 7.4% 7.8% 7.8% 7.4% 8.7% 9.1% 9.7% 10.3% 4.0% 7.7% 10.9% 9.9% 8.8% 7.4% 8.1% 8.8% Operating Income 320 476 505 541 630 659 595 435 1.7% 1.6% 2.3% 1.8% 1.6% 2.0% 2.3%* 2.4%* Allowance for Loan Loss 364 382 423 442 474 345 385 437 364 382 423 442 474 610 665 763 Capital Adequacy Ratio 12.8% 11.7% 11.5% 15.7% 13.7% 13.0% 14.5% 15.1% Asset Leverage 10.2X 9.7X 9.7 7.4X 9.3X 8.3X 7.2X 6.6X Total 12,568 13,412 14,335 14,378 16,560 17,330 17,338 17,755 Bond 56.7% 57.2% 60.0% 65.6% 67.5% 72.0% 74.2% 76.1% Bank Loans 9.9% 8.3% 10.3% 8.2% 7.4% 8.7% 9.4% 8.4% CP 13.3% 16.9% 10.6% 6.8% 8.5% 4.3% 3.4% 1.8% ABS 20.1% 17.6% 19.1% 19.4% 16.5% 15.0% 13.0% 13.6% Cash 401 398 707 739 1,027 1,297 1,100 1,304 Credit Line 931 938 1,082 1,367 1,338 2,511 2,480 2,345 S-T Debt coverage Liquidity 2012 Total Reserve** Funding Portfolio 2011 30+ Delinquency Capital Adequacy 2010 Mortgage Asset Quality 2009 Personal Loan Profit 2008 New Car Asset Portfolio 2007 Total Domestic Auto Market 2006 25.0% 23.7% 30.4% 36.0% 39.1% 63.5% 69.2% 73.7% * Excluded purchased NPL asset ** Bad debt reserve amount included
  20. 20. Good Profitability, albeit Slow Economy 17 Income Statement (KRW Bn) K-IFRS K-GAAP 2008 2009 2010 2011 2012 2013 YoY Operating Revenues 4,330 2,989 3,274 3,332 3,542 3,222 -9.0% (excl. FX effect) 2,384 2,485 2,889 3,126 3,071 2,921 -4.9% Operating Expenses 3,824 2,448 2,645 2,672 2,947 2,787 -5.4% (excl. FX effect) 1,879 1,944 2,259 2,466 2,477 2,486 0.4% Interest expenses 674 679 890 956 895 801 -10.6% Lease expenses 587 550 557 505 517 506 -2.1% SG&A Expenses 498 496 586 603 631 672 6.4% PPOP 600 717 775 1,014 972 888 -8.6% Bad Debt expenses 95 176 146 354 377 453 20.2% Operating Income 505 541 630 659 595 435 -26.9% Income before Tax 518 538 639 663 590 524 -11.1% Net Income 377 411 489 507 437 391 -10.4% ROA 2.4% 2.6% 2.8% 2.6% 2.2% 1.9% ROE 25.1% 21.3% 22.0% 20.3% 14.8% 12.1%
  21. 21. Funding by Currency & Outstanding Global Bonds 18 Funding Portfolio by Currency Outstanding Global Bonds* Issue Date Maturity Amount Nov.’09 5.5 years USD 500m Jan.’11 5.5 years USD 700m Mar.’12 5.5 years USD 500m Nov. ‘12 1.5 years JPY 20,000m Nov. ‘12 2 years JPY 8,000m Oct. ‘13 2 years JPY 25,000m Jul. ’10 5 years CHF 150m Oct. ’10 4 years CHF 200m May’11 5 years CHF 150m Feb.’12 5 years CHF 200m Feb.’12 5 years MYR 320m May ’12 3 years MYR 370m Australian Dollar Jun. ’12 3 years AUD 175m Kangaroo May ’13 4 years AUD 250m Dim Sum Sep. ‘12 1.5 years RMB 500m CNY AUD 3.4% 0.7% 0.7% JPY 3.7% 144A/Reg S MYR 1.4% CHF 4.6% USD 20.9% KRW 65.4% Samurai Swiss Franc • Funding Balance: KRW 17.8 Tn • Foreign Exchange Risk: -100% of foreign currency exposure is hedged through swap transactions entered into at the time of bond issuance. Malaysian Ringgit (*As of Dec, 2013)
  22. 22. Credit Ratings & Rationale 19 HCS’ Global Credit Ratings Credit Rating Rationale AAA A+ Baa1(S) BBB+ ("Positive”) • Strong Standalone Profile – Sustainable track record of strong profit performance and robust credit fundamentals BBB+(S) – Low risk-focused product portfolio and prudent risk management – Adequate liquidity and sound capitalization Moody's S&P Fitch JCR RAM – Strong market position as HMC's key captive financing arm HCS & Competitors’ Domestic Credit Ratings AA+ • Capable & Willing Shareholder Support AAA+ Hyundai Capital W Financial A Capital A+ W Capital - Solid backup line provided by GE Capital through its capital and managerial support - HMC’s assistance in contingency highly likely given its strong relationship with HMC, evident in capital contribution, board members and business base.
  23. 23. Overseas Business Highlights 20 HCA BHAF HCUK Biz Model • Established: 2012 • Established: 2011 • Biz since 2H12 • Biz since 2H12 • Captive Installment/Lease Dates • Established 1989 (vs. HCS 1993) • Captive Auto financing focused • Captive Installment/Lease • Inventory, used-car, insurance finance HMG M/S 8% 9% • Inventory finance 6% • Asset: USD 21.1 Bn Sharehol der • Asset : £ 693 Mn • 2013 Volume: USD 20.3 Bn • 2013 Volume : RMB 4,757 Mn • 2013 Volume : £ 2,296 Mn • Paid in Capital: USD 1.9 Bn • Paid in Capital : RMB 962 Mn • Paid in Capital : £ 43 Mn • HMA: 85% Financial s • Asset : RMB 4,011 Mn • HCS: 46% • HCS 29.99% • KMA :15% • HMC 14% • HMUK: 10.00% • BAI: 40% • KMUK: 10.00% • Santander UK: 50.01%
  24. 24. Robust OEM Parent 21 Operating Profit & Margins (Unit: KRW Bn, %) Revenue by Sector & % of Finance Auto 9.8% Finance Others 10.9% 12.9% Operating Profit % of Finance 11.3% 10.3% 8.8% 77.8 84.5 87.3 5.9 9.9 3.4 7.3 4.5 8.7 57.2 67.1 71.3 2011 2012 2013 10.0% 9.5% 8,029 8,441 8,316 2011 2012 2013 71.5 2010 Operating Margin 67.0 3.2 6.6 5,918 2010 Cash & Equivalents (Unit: KRW Tn) 19.1 13.6 21.7 • Global #5 in sales volume, exporting to more than 190 countries 15.4 • Consistent profitability throughout the cycle with c.10% operating margin achieved for the past 3 years • Strong balance sheet with approx. US$20bn 2010 2011 2012 2013 * Source: HMC public filing, based on consolidated K-IFRS financial statements in cash & equivalent as of year end 2013
  25. 25. Investor Relations Contacts Jungsang Kim, Head of Investor Relations Phone +82 2 2167 7034 jungsang.kim@hyundaicard.com Suh ye Choi, Manager of Investor Relations Phone +82 2 2167 7541 sychoi@hyundaicard.com Jay Moon, Assistant Manager of Investor Relations Phone +82 2 2167 5312 jaymoon@hyundaicapital.com Justin Lee, Manager of Investor Relations Phone +82 2 2167 8082 justin.j.lee@hyundaicard.com Hyunyoung Jang, Assistant Manager of Investor Relations Phone +82 2 2167 6955 hyunyoung.jang@hyundaicard.com http://ir.hyundaicapital.com/

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