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2. Disclaimer
This presentation and its contents have been prepared by Hyundai Capital Services, Inc. (“HCS” or “the
Company”) solely for information purposes, and may not be reproduced, published, redistributed, or transferred,
directly or indirectly to any other person, in whole or in part, for any purpose.
The Company has not taken measures to independently verify data contained in this material. No representations or warranties,
express or implied, are made as to, and no reliance should be placed on, the accuracy, fairness or completeness of the information
presented or contained herein. This presentation shall not be construed as legal, tax, investment, or other advice.
Financial statements in this document have been prepared in accordance with K-IFRS. Other additional contents such as market or
industry information have been sourced internally or from various associations. The data contained in this presentation is current
as of the date hereof, but the Company shall not be liable for any updates or verification of the contents thereafter.
Certain information and statements in this presentation contain estimates and other “forward-looking statements” which should
be approached with caution. The Company shall not be responsible for any losses or damages incurred based on these forward-
looking statements.
3. Hyundai Capital Services (HCS)
Leading Captive Finance Company in the Market
Credit Ratings②
• Domestic
Business Portfolio
Auto
captive
Auto
maker 82.4%
Auto
₩
17.6%
Non-Auto
Key Figures①
Financial Assets
34.4
TKRW
IBT
177.4
Bn KRW
Shareholders
• Global
A3
Baa1
Baa2
2022 2023 2024
1
Hyundai Motor Group (HMG)
99.9% ownership
59.7%
40.1%
Hyundai
Motor
KIA
② Rating agencies: Domestic (NICE), Global (Moody’s)
2022 2023 2024
AA+
AA
AA-
AAA
① As of ‘24.03 End
4. 76,814 75,809
81,760
Hyundai Motor Group (HMG)
Maintaining Focus on Profitability, through Improved Regional Mix and Focus on High Value Vehicles
HMG Sales Mix and Profitability
• Slight decrease in sales from temporary shutdown of production due
to EV transition
• Increased share of high ASP models such as Genesis and SUV
HMG Global Car Sales①
6,666 6,845
7,306
2021 2022 2023
• Maintaining high profitability from improved sales mix focused on
high ASP models and hybrid vehicles
Operating
income
Operating
margin
Revenues
(T KRW)
(K units)
Car Sales by Region
Global
HMG Global
Car Sales
Others
India
Europe③
North
Americas②
Korea
2
Korea North Americas
Europe India
HMC KIA
① HMC, KIA Biz. Performance Report, Wholesale ② HMC North Americas, KIA US ③ HMC Europe, KIA Western Europe ④ HMC Genesis+SUV, KIA RV
1,791 1,767
1Q23 1Q24
18,910
19,436
22%
13%
18%
31%
17%
1,767
1Q24
333 298
1Q23 1Q24
504 542
1Q23 1Q24
307 313
1Q23 1Q24
224 226
1Q23 1Q24
57.8%
62.8%
1Q23 1Q24
Portion of
High ASP
Models④
66.1%
72.6%
1Q23 1Q24
HMC KIA
+5.0%p
+6.5%p
2.9 3.4
24
26
3.6 3.6
38
41
12.6%
13.1%
9.5% 8.7%
5. 2.3 1.9
1.0 0.9
3.6
3.4
3.2 3.2
0.8 1.6
1.5 1.6
0.3 0.3
0.5 0.5
7.0T 7.2T
6.2T 6.1T
2021 2022 2023 1Q24
Asset
Stronger HMG Sales Support Resulted in Highest Auto Portion in 12 Years
Auto Non-Auto
• New cars: Maintained asset volume despite decrease in production
• Lease: Continued growth, with focus on high ASP models
• Used cars: Offering captive financing for HMG’s CPO business
• P-Loan: 100% X-Sell to Auto Finance Customers
• PF: Sound portfolio focused on term loan, senior tranche,
metropolitan exposure (4.6%)
New Car
Lease
Used car
Portion
3
(T KRW)
P-Loan
Mortgage
Others
PF
Portion
(T KRW)
73.5% 73.3% 76.8% 78.7%
M/S
77.6% 78.3%
82.1% 82.4%
P-Loan % 7.2% 5.6% 2.8% 2.5%
22.4% 21.7%
17.9% 17.6%
14.8 15.8 17.5 17.3
6.7
7.6
7.9 8.0
2.8
2.6
2.9 3.0
24.3T
26.1T
28.3T 28.4T
2021 2022 2023 1Q24
6. P&L
Improved Profitability from Enhanced Auto Product Competitiveness and Stabilized Bad Debt Expense
Summary of Financial Statement
(Bn KRW)
Key Message
• Revenue increase from auto-centric asset growth (34.4T, YoY +4.4%)
Lease income
Operating Revenue①
Operating Expense②
Operating Income
Interest expense
Installment income
IBT
Bad debt expense
Non-operating Income
Equity Method
income
- Sharp increase in Installment income from enhanced product competitiveness
- Lease income boosted from increased demand for high ASP vehicle leasing
• Operating Expense increased from high interest rate environment
30+ %
- Interest expense increased from continued high interest rate trends
- Stable asset quality, despite industry wide deterioration
• Stable delinquency% from pre-emptive risk management
①, ② Excl. FX and derivatives impact ③ Reflects 40.5Bn KRW equity method losses by impairment assessment of HCBE after Allane acquisition
④ Reflecting reduction in corporate tax expense of 99.3Bn, due to change in the accounting treatment of deferred corporate tax following the dividend payout of HCUK, BHAF
Net Income
4
SG&A
2022
3,787.0
3,311.8
474.5
711.8
583.3
1,799.8
610.5
198.3
108.8
103.8
437.1
676.0
2023
4,478.7
4,108.1
364.3
1,087.4
432.7
2,185.5
827.7
279.4
68.4
59.7③
459.9④
704.2
+13.9%
YoY
+10.4%
+54.8%
+16.3%
+107.3%
+29.4%
+19.0%
-15.2%
+344.1%
+280.9%
+112.2%
+8.3%
1Q23
1,053.2
954.7
96.8
254.9
85.5
488.4
186.4
66.4
-11.3
-13.4③
65.0
164.0
1Q24
1,199.7
1,054.2
149.9
296.4
177.4
581.0
241.2
56.3
27.5
24.2
137.8
177.6
1.48%
0.94% 1.04% 0.92% 0.91%
2020 2021 2022 2023 1Q24
7. Key Index
Solid Financial Position Maintained Within Regulatory Guidelines
Provision Funding
• Regulatory reserves managed above government guideline(100%) • Stable funding through portfolio diversification
Debt
Balance
31.1T KRW
1Q24 Guideline
6M Coverage①
130% 100%
ALM②
126% 100%
Liquidity
• Stable liquidity mgmt. based on conservative internal guideline
Capital Adequacy
• Leverage managed well below regulatory guideline (9x)
5
• Leading the ESG bond market, through issuance of Green Bonds
& SLB (Sustainability-linked Bonds)
Asset Leverage
(Asset/Equity)
Regulatory
Reserve
Coverage
① Total liquidity / 6M coverage ② Average maturity of liability / Average maturity of asset
122.6%
129.4% 131.1% 131.5%
2021 2022 2023 1Q24
Domestic Bond
53%
Overseas
Bond
20%
ABS
17%
Bank
9%
CP
1%
USD JPY AUD CHF
CNY EUR HKD SGD
7.2x 7.4x 7.2x 7.0x
2021 2022 2023 1Q24
No dividend Payout since ’21