Kumho HT's 3Q Operating Profit Up 91% YoY... "Performance Growth Will Continue"

Automotive electronics specialist Kumho HT announced on the 15th that its consolidated operating profit for the third quarter of this year reached 3.797 billion KRW, marking a 91% increase compared to the same period last year. During the same period, sales rose 24% to 114.67 billion KRW, and net profit turned positive at 5.023 billion KRW. On a cumulative basis for the third quarter, consolidated sales amounted to 337.118 billion KRW, up 35% year-on-year, while operating profit increased 67% to 11.228 billion KRW.

The increase in third-quarter sales was driven by a 35% growth in the automotive electronics business segment compared to last year. Specifically, exports of rear combination lamps increased by 30%, and exports of daytime running lights also recorded high growth of 47%. Along with this, continuous growth in sales of BMS and BMA contributed to the rise in sales and operating profit. Equity method gains from affiliates increased significantly, leading to a substantial improvement in net profit.

Kumho HT's performance growth is expected to continue in the future. Responding to the expanding demand for automotive parts domestically and internationally, Kumho HT plans to supply key products for the full-change models of large SUVs starting next year. Products applied to local models in the Asian region will also be mass-produced and supplied from overseas factories, which is expected to drive significant growth in performance.

A Kumho HT official stated, “Steady sales growth is expected due to products supplied to eco-friendly vehicles of major domestic automakers and products applied to localized models in the Indian market. These products can increase delivery prices through new development and design changes, which will greatly contribute to the company’s profitability.”

He added, “Using the Chennai plant in India, which began mass production last month, as a base, we will continue to grow our performance by maximizing global sales as well as in India, the world’s third-largest market. We will actively expand new markets such as high-resolution pixel headlamps and interior mood lighting with interior functions by proactively responding to changes in the automotive lamp market driven by autonomous driving.”