Hyundai Motor Company I 2009 Annual Report
Total Page:16
File Type:pdf, Size:1020Kb
HYUNDAI MOTOR COMPANY I 2009 ANNUAL REPORT TABLE OF CONTENTS 11 I INTRO 12 I FINANCIAL HIGHLIGHTS 14 I MESSAGE FROM THE CEO 18 I TO TRUTH (Business Performance Results & Vision) 28 I TO POWER (Global Management & Marketing) 36 I HYUNDAI WITH THE WORLD 46 I TO FUTURE (Sustainable Management) 56 I HYUNDAI WITH HONESTY (Corporate Governance & Financial Statements) 148 I SUPPLEMENT 152 I FROM HYUNDAI From TAU 4.6 V8 Engine To The Ideal Ca r From The Ideal Ca r To Real Happiness From Real Happiness To Humans, Nature, Society Good technology makes good cars and happier people. Happier people go on to spread their happiness to the rest of the world. We know how even a small idea of Hyundai Motor Company can change the world in a big way. In this way, we continue to do all we can do to be even better. From TAU 4.6 V8 Engine Hyundai Motor’s new technologies To The Ideal Car Creating your dream cars From The Ideal Car Creating your dream cars To Real Happiness Making people happier From Real Happiness Making people happier To Humans, Nature, Society Creating a more humane society and a cleaner environment INTRO I FINANCIAL HIGHLIGHTS I MESSAGE FROM THE CEO I TO TRUTH I TO POWER I HYUNDAI WITH THE WORLD I TO FUTURE I HYUNDAI WITH HONESTY I SUPPLEMENT I FROM HYUNDAI >> FINANCIAL HIGHLIGHTS CONSOLIDATED PERFORMANCE SEGMENT INFORMATION Korean Won in millions U. S. Dollars in thousands Sales Vehicle Sales 2007 2008 2009 2009 Unit (‘000) (HMC) 5,000 Financial Korea For the Year : Services % 6% Other 22.5 Sales 69,601,516 79,736,351 91,463,064 78,334,245 4,000 Regions 44% Operating Income 2,848,022 3,072,043 5,620,241 4,813,499 FY 2009 3,000 FY 2009 Net Income 1,956,087 1,092,552 4,043,436 3,463,032 91,463 4,952,022 Won(Billion) Units 2,000 North ROE 8.25% 4.31% 13.96% 13.96% America 1,000 17.9 % At Year End : Automotives 94% Europe Total Assets 83,847,526 103,205,783 102,324,934 87,636,977 15.6% ‘05 ‘06 ‘07 ‘08 ‘09 Shareholder’s Equity 23,713,636 25,351,897 28,961,660 24,804,436 2005 2006 2007 2008 2009 Average Sales Price Vehicle Production R&D and Sales Credit Rating : Won (Thousand) Won (Billion) (%) 20,000 2,500 5.0% Korea Ratings AA AA AA AA AA+ Other 6.8% S&P BBB- BBB- BBB- BBB- BBB- 2,000 4.0% 15,000 US Moody’s Baa3 Baa3 Baa3 Baa3 Baa3 4.2% 1,500 3.0% India FY 2009 10,000 12.1% 4,630,786 Units 1,000 2.0% China 5,000 17.6 % Korea Sales Operating Income and Margin Net Income and ROE 500 1.0% 59.3% Won (Billion) Won (Billion) (%) Won (Billion) (%) 100,000 6,000 7.0% 5,000 15.0% ‘05 ‘06 ‘07 ‘08 ‘09 ‘05 ‘06 ‘07 ‘08 ‘09 6.0% 5,000 80,000 4,000 5.0% 4,000 10.0% 60,000 4.0% 3,000 Global Network 3,000 3.0% 2,000 40,000 W.Europe 2,000 5.0% 2.0% Hyundai Motor United Kingdom. Ltd. (HMUK) Hyundai Motor Norway AS (HMN) 1,000 20,000 Hyundai Motor Company Italy (HMCI) 1,000 1.0% Kia Motors Sweden (KMSW) Kia Motors UK (KMUK) Kia Motors Belgium (KMB) Kia Motors Ireland (KMIE) ‘05 ‘06 ‘07 ‘08 ‘09 ‘05 ‘06 ‘07 ‘08 ‘09 ‘05 ‘06 ‘07 ‘08 ‘09 Kia Motors France (KMF) Kia Motors Iberia (KMIB) Kia Motors Central Europe(Austria) (KMAS) Kia Motors Deutschland (KMD) Kia Motors Europe(Deutschland) (KME) North America Total Assets Stockholder’s Equity and Cash Dividends Per Share Credit Rating E.Europe Hyundai Motor America (HMA) Hyundai Motor Manufacturing Rus LLC (HMMR) Hyundai Motor Manufacturing Alabama (HMMA) Hyundai Motor CIS (HMCIS) Hyundai Translead (HT) Won (Billion) Won (Billion) Won Hyundai Motor Poland (HMP) Hyundai de Mexico (HYMEX) Hyundai Auto Canada (HAC) 1,500 Hyundai Motor Czech s.r.o. (HMCZ) 120,000 30,000 AA+ Hyundai Motor Manufacturing Czech s.r.o. (HMMC) Kia Motors America (KMA) Hyundai Assan Otomotive Sanayi Ve Ticaret (HAOS) Kia Motors Manufacturing Georgia (KMMG) Kia Motors Slovakia (KMS) Kia Canada Inc. (KCI) 24,000 1,200 Kia Motors Russia (KMR) 90,000 Kia Motors Polska (KMP) 18,000 900 Asia Pacific - Investment BBB Baa3 Hyundai Motor Group China (HMGC) 60,000 grade Beijing Hyundai Motor Company (BHMC) South America Hyundai Motor Japan (HMJ) Hyundai Motor Manufacturing Brazil (HMMB) 12,000 600 Hyundai Motor India (HMI) Hyundai Motor Company Australia (HMCA) 30,000 Dongfeng Yueda Kia (DYK) 6,000 300 Kia Motors Australia (KMAI) HMC Production Plants Kia Motors New Zealand (KMNZ) HMC Sales Subsidiaries KMC Production Plants KMC Sales Subsidiaries Korea ‘05 ‘06 ‘07 ‘08 ‘09 ‘05 ‘06 ‘07 ‘08 ‘09 Ratings S&P Moody’s HYUNDAI MOTOR COMPANY I 2009 ANNUAL REPORT I 12 HYUNDAI MOTOR COMPANY I 2009 ANNUAL REPORT I 13 INTRO I FINANCIAL HIGHLIGHTS I MESSAGE FROM THE CEO I TO TRUTH I TO POWER I HYUNDAI WITH THE WORLD I TO FUTURE I HYUNDAI WITH HONESTY I SUPPLEMENT I FROM HYUNDAI >> MESSAGE FROM THE CHAIRMAN First of all, I would like to extend my deepest gratitude to our customers Every step taken toward customer who have always shown great loyalty and interest in Hyundai Motor. satisfaction has paved the way for Last year, we accomplished great things despite the difficult economic en- Hyundai Motor Company to become vironment both at home and abroad, bringing Hyundai Motor Company one step closer to becoming a leading global company. Hyundai has succeeded a leading global group. Always re- in establishing itself as a true, top-class leader with favorable reviews from major automotive agencies and the media. Last year, Genesis received the membering the passion with which “Car of the Year” award in North America, while Hyundai Motor’s brand val- the company began, we will contin- ue has been climbing up the global rankings ladder, as measured by the an- nual BusinessWeek/Interbrand survey. Hyundai’s TAU engine has also been ue our strong march toward global awarded as one of the world’s 10 Best Engines by Ward’s Auto World two years in a row. This was made possible by Hyundai Motor Co.’s exceptional customer satisfaction in 2010. passion for excellence and the spirit of challenge, steering the company to seize crises and turn them into opportunities. The result: a steady increase in global market share, quality, and consumer awareness. In 2010, Hyundai Motor will continue in its endeavor to become a leading global company through increased worldwide production and sales. To do so, we will accelerate our competitive edge in product quality — what has always been our strongest asset — and invest further in the development of innovative products, appealing to the ever-growing emerging markets, as well as the rapidly changing global market. Moreover, we will carry out pro- grams that contribute to society, as part of our global corporate responsibil- ity, as well as to secure leadership for future growth through environmental management, forging the way for green growth and the development of world-class eco-friendly vehicles. Since its establishment, Hyundai has placed customer satisfaction as its highest priority — achieved only through meeting challenges head-on with our undying passion. Now, Hyundai Motor Company will raise its future competitive edge through innovative ideas. We encourage you to continue your interest and support in Hyundai Motor Company as we rewrite global automotive history and become a top global company. We promise to con- tinue providing the highest standards in customer satisfaction. May. 2010 Chairman and CEO Mong-Koo Chung HYUNDAI MOTOR COMPANY I 2009 ANNUAL REPORT I 14 HYUNDAI MOTOR COMPANY I 2009 ANNUAL REPORT I 15 INTRO I FINANCIAL HIGHLIGHTS I MESSAGE FROM THE CEO I TO TRUTH I TO POWER I HYUNDAI WITH THE WORLD I TO FUTURE I HYUNDAI WITH HONESTY I SUPPLEMENT I FROM HYUNDAI >> MESSAGE FROM THE VICE CHAIRMAN Dear Shareholders, ity, thereby taking full advantage of opportunities to increase sales in this difficult business environment. The year 2009 was a particularly difficult year for the automobile market due to the downturn in the global economy. However, despite the adverse Third, we will reinforce our core strengths including productivity, profitabil- conditions, we managed to attain the highest production and sales record ity, employee competency, and focused corporate culture to gain a com- in our history as well as achieving excellent results in terms of technology, petitive edge over major automakers and always be one step ahead in this quality and brand equity. fiercely competitive market. First of all, in terms of quantitative results, we continued the positive sales Hyundai Motor will concentrate all its resources to achieve its business trend while the global automotive market contracted by 7 percent. Total goals in 2010 and continue its drive to become a leading global automaker. 2009 sales of 3,132,000 units were equivalent to a 20 percent y-o-y increase of which 701,000 units were domestic sales while exports accounted for Dear esteemed shareholders, 911,000 units exports and overseas production for 1,520,000 units. Your valued support and the efforts of everyone at the company have made We also achieved significant accomplishments from a qualitative point of it possible for us to overcome the difficulties that prevail in the automobile view. Our V8 Tau engine was selected as one of the 10 Best Engines by industry today.