(LEAD) Hyundai Mobis-Q3 earnings

(LEAD) Hyundai Mobis Q3 net rises 4.6 pct on EV parts

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SEOUL, Oct. 28 (Yonhap) -- Hyundai Mobis Co., South Korea's leading auto parts maker, said Friday its third-quarter net profit rose 4.6 percent from a year earlier on increased supplies of electric vehicle parts.

Net profit for the three months ended in September rose to 559.95 billion won (US$395 million) from 535.54 billion won during the same period of last year, the company said in a statement.

"Increased supplies of modules and core EV components helped the quarterly bottom line as global vehicle production is recovering despite the extended chip shortage," the statement said.

Operating profit climbed 26 percent to 575.96 billion won in the third quarter from 457.59 billion won a year ago. Sales jumped 32 percent to 13.18 trillion won from 9.99 trillion won.

From January to September, net profit rose 2.3 percent on-year to 1.85 trillion won from 1.81 trillion won.

Operating profit fell 9.6 percent on-year to 1.37 trillion won in the first nine months on sales of 36.79 trillion won, up 22 percent from a year ago.

Hyundai Mobis is a core affiliate of Hyundai Motor Group, which also has Hyundai Motor Co. and Kia Corp. under its wing. Hyundai Mobis owns a 21.43 percent stake in Hyundai Motor.

In the July-September period, the company obtained $3.33 billion worth of parts orders from global carmakers, except for its captive buyers Hyundai Motor and Kia, already achieving 90 percent of its order target of $3.74 billion for this year.

Hyundai Mobis earns about 90 percent of its sales from Hyundai Motor and Kia, with 10 percent coming from other carmakers.

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