Subscribe to Our Newsletter

Success! Now Check Your Email

To complete Subscribe, click the confirmation link in your inbox. If it doesn’t arrive within 3 minutes, check your spam folder.

Ok, Thanks
Kia Reports Record 2024 Profit, Plans EV Expansion for 2025
Source: KIA

Kia Reports Record 2024 Profit, Plans EV Expansion for 2025

Kia achieves record KRW 107.45T revenue, 11.8% margin in 2024; announces new EVs and 33.3% shareholder return for 2025

Philip Lee profile image
by Philip Lee

Seoul, South Korea—Kia Corporation (000270. KS) reported its highest-ever annual revenue of KRW 107.45 trillion (US$75.16 billion) in 2024, a 7.7% increase from the previous year.

Operating profit climbed 9.1% to KRW 12.67 trillion (US$8.86 billion), with an operating profit margin of 11.8%. 

Net profit rose 11.5% to KRW 9.79 trillion (US$6.85 billion).

Global sales reached 3,089,300 units in 2024, a 0.1% increase year-over-year. 

The fourth-quarter sales volume grew 5% to 769,985 units, and sales outside Korea rose 5.8% to 629,051 units.

Electrified vehicle retail sales, including hybrid (HEV), plug-in hybrid (PHEV), and battery electric (BEV) models, increased 10.9% to 638,000 units in 2024. 

HEV sales rose 20% to 367,000 units, while BEV sales grew 10.2% to 201,000 units.

In 2025, Kia plans to launch several new models for the Indian market, including the EV4 and EV5 electric vehicles, PV5 Purpose-Built Vehicles (PBVs), Tasman pickup trucks, and Syros SUVs. 

The company aims to expand its electrified vehicle lineup to meet growing demand in North America and Europe.

The company forecasts global sales of 3.22 million units for 2025, projecting a 4.1% increase. 

The revenue target is KRW 112.5 trillion (US$78.69 billion), and the operating profit goal is KRW 12.4 trillion (US$8.67 billion).

Strong regional performance in the fourth quarter showed strong growth for key models, with the Carnival MPV Hybrid, Sportage, and Telluride SUVs driving a 7.3% sales increase in North America. 

Middle East sales rose 43.3%, Asia-Pacific sales grew 18.7%, while Western European sales declined 1.1%.

Kia announced a dividend of KRW 6,500 (US$4.55) per share for 2024, up from KRW 5,600 in 2023. 

The company plans a share buyback program worth KRW 700 billion (US$489.65 million), implementing a split format for purchases in the first and second halves of 2025.

The company's liabilities-to-equity ratio improved to 66.1% in 2024 from 73.2% in 2023. 

Total assets increased by KRW 12.16 trillion (US$8.51 billion) to KRW 92.79 trillion (US$64.91 billion).

(US$1 = KRW1,429.63)

Philip Lee profile image
by Philip Lee

Subscribe to The Pickool

Success! Now Check Your Email

To complete Subscribe, click the confirmation link in your inbox. If it doesn’t arrive within 3 minutes, check your spam folder.

Ok, Thanks

Read More