Hyundai AutoEver, in line with the strong performance of the Hyundai Motor Group, achieved its highest-ever quarterly performance in the fourth quarter of 2024, surpassing 1 trillion KRW in sales for the first time. Particularly, net income increased by more than 1.5 times compared to the same period the previous year.
According to data disclosed by Hyundai AutoEver on the 3rd, last year’s consolidated revenue was 3.7136 trillion KRW, a 21.2% increase. Operating profit also rose by 23.7% to 224.434 billion KRW, while net income saw a 24.9% increase, reaching 175.1825 billion KRW.
In the fourth quarter of last year, sales increased by 28.9% compared to the same period the previous year, reaching 1.1596 trillion KRW, marking the first time quarterly sales exceeded 1 trillion KRW. Additionally, operating profit was 72.7 billion KRW, up 37.4% from the 52.9 billion KRW recorded in the same period the previous year.
Hyundai AutoEver’s performance is divided into three sectors: Systems Integration (SI), IT Outsourcing (ITO), and Vehicle Software. On an annual basis, revenue from the SI business increased by 26.6% year-over-year to 1.2789 trillion KRW. The ITO business revenue grew by 15.2% compared to the same period last year, reaching 1.6304 trillion KRW. Meanwhile, vehicle software revenue rose by 25.8% to 804.4 billion KRW.
In the SI sector, the establishment of next-generation ERP systems and AWS cloud supply supported the performance. In the ITO area, the expansion of IT operations sales from affiliates and the domestic and international operation of connected car services (CCS) contributed to growth. In the vehicle SW sector, the expanded application of vehicle software platforms such as Mobigen Classic and the increase in domestic and international navigation supply drove growth.