起亚二季度收入创新高但营业利润同比下滑4.9%

Kia (000270.KS) posted record revenue in the second quarter of this year, but its operating profit declined from a year earlier.
Kia announced on the 24th that it recorded revenue of 33.037 trillion won and operating profit of 2.6285 trillion won in the second quarter of this year. Revenue rose 12.6% from a year earlier, marking a record high on a quarterly basis. However, operating profit fell 4.9% over the same period.
Revenue increased as global sales reached 851,645 units in the second quarter, a record high on a quarterly basis. Sales of electrified vehicles, including electric vehicles and hybrids, surged 60% year-on-year to 296,000 units, driving the sales growth.
Despite strong sales, operating profit declined primarily because sales warranty provisions rose sharply. These provisions account for costs such as parts replacement within a vehicle's warranty period and are recognized as accounting expenses at the point of sale. Generally, provisions for electric vehicles equipped with batteries are higher than those for internal combustion engine vehicles. As Kia's share of electric vehicle sales increased, these provisions also grew rapidly. With the won-dollar exchange rate averaging 1,502 won in the second quarter, up 7% year-on-year, the won-converted value of dollar-denominated provisions swelled further.
As competition with Chinese brands intensified in the domestic and European electric vehicle markets, Kia expanded its sales incentives, widening the decline in earnings.
Kia plans to boost its second-half earnings by increasing electric vehicle sales in global markets. However, mounting domestic strike risks remain a variable. In a strike vote conducted the previous day among all union members, Kia's labor union approved a strike proposal with an 82% approval rate.