Kia Motors announces 2020 Q1 business results
Kia Motors Corporation today announced its first-quarter business results for 2020, reporting a 1.9 percent year-on-year decrease in quarterly global vehicle sales.
Kia Motors recorded quarterly sales revenue of KRW 14.57 trillion, 17.1 percent higher than the KRW 12.44 trillion reported for the same period in 2019. Operating profit in the first quarter dropped 25.2 percent year-on-year to KRW 444.5 billion, compared with KRW 594.1 billion a year earlier, during which time a one-off item helped boost profits.
Quarterly net profit (including minority interests) declined 59 percent from the same period in 2019 to KRW 266 billion as earnings contributions from affiliated companies contracted while the end-quarter fluctuation in KRW/USD exchange rate also adversely impacted on the net profit.
Apr 24, 2020 at 15:11