Hyundai AutoEver expanded its scale in the third quarter of this year, driven by growth in its enterprise IT business, but its operating profit declined slightly as profitability in the vehicle software (SW) segment fell.
On the 30th, Hyundai AutoEver disclosed that it recorded consolidated revenue of 1.2247 trillion won and an operating profit of 68.9 billion won for the third quarter. Revenue increased by 16.2% year-on-year, while operating profit decreased by 2.6%. Net income for the period fell by 14.9% to 44.9 billion won.
By business segment, enterprise IT revenue, including systems integration (SI) and IT outsourcing (ITO), rose by 19.7% to 1.0248 trillion won. The growth trend continued as customers accelerated their digital transformation efforts, such as cloud migration and the deployment of next-generation enterprise resource planning (ERP) systems.
Vehicle SW revenue increased by 0.8% to 199.9 billion won. Profitability declined due to the impact of U.S. tariffs and geopolitical risks. The company plans to boost profitability through operational efficiency improvements and seek opportunities in new businesses.
Overseas subsidiaries saw balanced revenue growth across key regions, including the Americas, Europe, India, and China. This was driven by an expansion in customers' global IT investments and an increase in subscribers to Connected Car Services (CCS).
Hyundai AutoEver's cumulative revenue for the first three quarters of the year stood at 3.4111 trillion won, with an operating profit of 180.6 billion won. Compared to the same period last year, revenue and operating profit increased by 16.4% and 1%, respectively.
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