26th Feb 2020 07:00
[English Translation]
The Convening Notice of 52nd Annual General Meeting
The Annual General Meeting of Shareholders of Hyundai Motor Company (the "Company") will be held pursuant to Article 365 of the Korea Commercial Act and Article 14 of the Articles of Incorporation of the Company.
1. Date : March 19, 2020 (Thursday) 09:00 AM
2. Place : Grand Hall, 2nd Floor West Building, Head office of Hyundai Motor Company
12 Heolleung-ro, Seocho-gu, Seoul, Korea (T : 82-2-3464-1114)
3. Purposes of the Meeting
Independent Auditor's Report, Annual Report, Internal Accounting Control System Management Report, Corporate Governance and Communication Committee Report
Item 1 : Approval of the Financial Statements for the 52nd Fiscal Year
(1/1/2019 ~ 12/31/2019)
Item 2 : Approval of Partial Amendment of the Articles of Incorporation
Item 3 : Appointment of Director(s)
3-1 : Appointment of an Independent Director
3-2 : Appointment of an Internal Director
Item 4 : Appointment of Audit Committee Member(s) Item 5 : Approval of Ceiling Amount of Remuneration for Directors
4. Matters regarding the Exercise of Voting Rights (Physical Attendance)
- In-person : An invitation to the AGM and an identification
- Proxy : An invitation to the AGM, a power of attorney (with information of the relevant shareholder and the person with the power of attorney filled in, and duly executed and sealed), and an identification of the agent.
5. Matters regarding the Exercise of Voting Rights by Electronic Means
In accordance with Article 368 Section 4 of Korea Commercial Act, the Company has determined to allow voting introduce exercising shareholders' voting rights by electronic means, and the overall management of electronic voting system will be consigned to Korea Securities Depository. Shareholders may exercise their voting rights through electronic means, without physical attendance, by referring to the following methods.
- Electronic Voting Website : https://evote.ksd.or.kr / Mobile : https://evote.ksd.or.kr/m
- Voting Period : March 9, 2020 to March 18, 2020
* You may access the voting website from 9 AM to 10 PM (to 5 PM for the last day)
- If amendment motion on agendas presented at the AGM is submitted, electronic votes will automatically be abstained.
6. Matters regarding the Protection of Rights of Physical Stock Bearers
Electronic stock system, implemented on September 16, 2019, has suspended the effect of physical stock, and physical stock bearers will be electronically classified as special account shareholders of Korea Securities Depository and will be limited from exercising their rights. If you bear physical stocks, please do convert them into electronic stocks by visiting the office of Hanabank agency services for securities.
7. Other matters
In accordance with Article 542 Section 4 of Korean Commercial Act, the reference for our business overview and agendas of AGM are located at the head office of the company, Financial Service Commission, Korea Exchange and the office of Hanabank agency services for securities.
March 2, 2020
Hyundai Motor Company
Representative Director, Won Hee Lee
(Seal omitted)
Item 1: Approval of the Financial Statements for the 52nd Fiscal Year
* Financial statements for the 52nd fiscal year below are presented on a preliminary basis before the audit from an independent auditor. Actual audited results may subject to differ. Audited financial statements for the 52nd fiscal year, including auditor's opinion from the designated independent auditor, will be disclosed on March 4th, 2020.
HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
AS OF DECEMBER 31, 2019 AND 2018
ASSETS |
|
|
| December 31, 2019 |
| December 31, 2018 | ||
|
|
|
| (In millions of Korean Won) | ||||
Current assets: |
|
|
|
|
|
| ||
Cash and cash equivalents |
|
|
| ￦ | 8,681,971 |
| ￦ | 9,113,625 |
Short-term financial instruments |
|
|
|
| 7,292,626 |
|
| 7,936,319 |
Other financial assets |
|
|
|
| 9,449,913 |
|
| 9,755,725 |
Trade notes and accounts receivable |
|
|
|
| 3,540,871 |
|
| 3,595,993 |
Other receivables |
|
|
|
| 3,376,636 |
|
| 3,291,847 |
Inventories |
|
|
|
| 11,663,848 |
|
| 10,714,858 |
Other assets |
|
|
|
| 1,790,298 |
|
| 1,770,682 |
Current tax assets |
|
|
|
| 112,046 |
|
| 97,271 |
Financial services receivables |
|
|
|
| 30,178,200 |
|
| 25,864,589 |
Non-current assets classified as held for sales |
|
|
|
| 11,493 |
|
| 867,192 |
Total current assets |
|
|
|
| 76,097,902 |
|
| 73,008,101 |
|
|
|
|
|
|
|
|
|
Non-current assets: |
|
|
|
|
|
|
|
|
Long-term financial instruments |
|
|
|
| 803,262 |
|
| 112,394 |
Other financial assets |
|
|
|
| 3,059,526 |
|
| 2,223,358 |
Long-term trade notes and accounts receivable |
|
|
|
| 127,430 |
|
| 136,777 |
Other receivables |
|
|
|
| 705,154 |
|
| 755,088 |
Property, plant and equipment |
|
|
|
| 32,831,524 |
|
| 30,545,608 |
Investment property |
|
|
|
| 171,494 |
|
| 189,334 |
Intangible assets |
|
|
|
| 5,266,496 |
|
| 4,921,383 |
Investments in joint ventures and associates |
|
|
|
| 18,375,290 |
|
| 17,143,239 |
Deferred tax assets |
|
|
|
| 2,340,096 |
|
| 1,846,330 |
Financial services receivables |
|
|
|
| 32,080,426 |
|
| 28,637,075 |
Operating lease assets |
|
|
|
| 21,068,340 |
|
| 20,425,766 |
Other assets Right-of-use assets |
|
|
|
| 865,767 734,542 |
|
| 711,299 - |
Total non-current assets |
|
|
|
| 118,429,347 |
|
| 107,647,651 |
|
|
|
|
|
|
|
|
|
Total assets |
|
|
| ￦ | 194,527,249 |
| ￦ | 180,655,752 |
(Continued)
HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
AS OF DECEMBER 31, 2019 AND 2018 (CONTINUED)
LIABILITIES AND EQUITY |
|
|
| December 31, 2019 |
| December 31, 2018 | ||
|
|
|
| (In millions of Korean Won) | ||||
Current liabilities: |
|
|
|
|
|
| ||
Trade notes and accounts payable |
|
|
| ￦ | 7,669,424 |
| ￦ | 7,655,630 |
Other payables |
|
|
|
| 6,060,100 |
|
| 5,425,460 |
Short-term borrowings |
|
|
|
| 12,570,693 |
|
| 12,249,850 |
Current portion of long-term debt and debentures |
|
|
|
| 15,778,558 |
|
| 14,104,927 |
Income tax payable |
|
|
|
| 370,100 |
|
| 150,802 |
Provisions |
|
|
|
| 3,459,882 |
|
| 3,291,868 |
Other financial liabilities |
|
|
|
| 9,970 |
|
| 44,288 |
Non-current liabilities classified as held for sale |
|
|
|
| - |
|
| 719,396 |
Lease liabilities |
|
|
|
| 132,388 |
|
| - |
Other liabilities |
|
|
|
| 7,244,824 |
|
| 5,796,193 |
Total current liabilities |
|
|
|
| 53,295,939 |
|
| 49,438,414 |
|
|
|
|
|
|
|
|
|
Non-current liabilities: |
|
|
|
|
|
|
|
|
Long-term other payables |
|
|
|
| 847,287 |
|
| 20,319 |
Debentures |
|
|
|
| 41,805,814 |
|
| 36,956,114 |
Long-term debt |
|
|
|
| 11,217,088 |
|
| 9,985,250 |
Net defined benefit liabilities |
|
|
|
| 412,598 |
|
| 433,247 |
Provisions |
|
|
|
| 3,682,895 |
|
| 3,508,036 |
Other financial liabilities |
|
|
|
| 175,196 |
|
| 297,506 |
Deferred tax liabilities |
|
|
|
| 3,503,077 |
|
| 3,320,346 |
Lease liabilities |
|
|
|
| 635,596 |
|
| - |
Other liabilities |
|
|
|
| 2,552,819 |
|
| 2,800,510 |
Total non-current liabilities |
|
|
|
| 64,832,370 |
|
| 57,321,328 |
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
|
| 118,128,309 |
|
| 106,759,742 |
|
|
|
|
|
|
|
|
|
Equity: |
|
|
|
|
|
|
|
|
Capital stock |
|
|
|
| 1,488,993 |
|
| 1,488,993 |
Capital surplus |
|
|
|
| 4,197,015 |
|
| 4,201,214 |
Other capital items |
|
|
|
| (1,516,817) |
|
| (1,155,244) |
Accumulated other comprehensive loss |
|
|
|
| (2,353,022) |
|
| (3,052,198) |
Retained earnings |
|
|
|
| 68,264,021 |
|
| 66,490,082 |
Equity related to assets classified as held for sale |
|
|
|
| - |
|
| 1,122 |
Equity attributable to the owners of the Company |
|
|
|
| 70,080,190 |
|
| 67,973,969 |
|
|
|
|
|
|
|
|
|
Non-controlling interests |
|
|
|
| 6,318,750 |
|
| 5,922,041 |
Total equity |
|
|
|
| 76,398,940 |
|
| 73,896,010 |
|
|
|
|
|
|
|
|
|
Total liabilities and equity |
|
|
| ￦ | 194,527,249 |
| ￦ | 180,655,752 |
(Concluded)
HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018
|
|
|
| 2019 |
| 2018 | ||
|
|
|
| (In millions of Korean Won, except per share amounts) | ||||
Sales |
|
|
| ￦ | 105,764,784 |
| ￦ | 96,812,609 |
|
|
|
|
|
|
|
|
|
Cost of sales |
|
|
|
| 88,089,257 |
|
| 81,670,479 |
|
|
|
|
|
|
|
|
|
Gross profit |
|
|
|
| 17,675,527 |
|
| 15,142,130 |
|
|
|
|
|
|
|
|
|
Selling and administrative expenses |
|
|
|
| 14,036,836 |
|
| 12,719,965 |
|
|
|
|
|
|
|
|
|
Operating profit |
|
|
|
| 3,638,691 |
|
| 2,422,165 |
|
|
|
|
|
|
|
|
|
Gain on investments in joint ventures and associates, net |
|
|
|
|
542,779 |
|
| 404,541 |
Finance income |
|
|
|
| 827,120 |
|
| 823,499 |
Finance expenses |
|
|
|
| 475,218 |
|
| 600,867 |
Other income |
|
|
|
| 1,120,958 |
|
| 967,281 |
Other expenses |
|
|
|
| 1,457,425 |
|
| 1,487,037 |
|
|
|
|
|
|
|
|
|
Profit before income tax |
|
|
|
| 4,196,905 |
|
| 2,529,582 |
|
|
|
|
|
|
|
|
|
Income tax expense (benefit) |
|
|
|
| 978,120 |
|
| 884,563 |
|
|
|
|
|
|
|
|
|
Profit for the period |
|
|
| ￦ | 3,218,785 |
| ￦ | 1,645,019 |
|
|
|
|
|
|
|
|
|
Profit attributable to: |
|
|
|
|
|
|
|
|
Owners of the Company |
|
|
|
| 2,994,417 |
|
| 1,508,084 |
Non-controlling interests |
|
|
|
| 224,368 |
|
| 136,935 |
|
|
|
|
|
|
|
|
|
Earnings per share attributable to the owners of the Company: |
|
|
|
|
|
|
|
|
Basic earnings per share: Common stock |
|
|
| ￦ | 11,365 |
| ￦ | 5,632 |
1st preferred stock |
|
|
| ￦ | 11,409 |
| ￦ | 5,681 |
Diluted earnings per share: Common stock |
|
|
| ￦ | 11,365 |
| ￦ | 5,632 |
1st preferred stock |
|
|
| ￦ | 11,409 |
| ￦ | 5,681 |
|
| |||||||
HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018
|
| 2019 |
| 2018 | ||
|
| (In millions of Korean Won) | ||||
Profit for the year |
| ￦ | 3,218,785 |
| ￦ | 1,645,019 |
|
|
|
|
|
|
|
Other comprehensive income (loss): |
|
|
|
|
|
|
Items that will not be reclassified subsequently to profit or loss: |
|
|
|
|
|
|
Profit (loss) on financial assets measured at FVOCI, net |
|
| (37,965) |
|
| (99,125) |
Remeasurements of defined benefit plans |
|
| (53,144) |
|
| (439,508) |
Changes in retained earnings of equity-accounted investees, net |
|
| (108,962) |
|
| (67,347) |
Changes in share of earnings of equity-accounted investees, net |
|
| 16,966 |
|
| (25,826) |
|
|
| (183,105) |
|
| (631,806) |
Items that may be reclassified subsequently to profit or loss: |
|
|
|
|
|
|
Profit (loss) on financial assets measured at FVOCI, net |
|
| 15,906 |
|
| (6,534) |
Gain (loss) on valuation of cash flow hedge derivatives, net |
|
| 45,051 |
|
| (124,121) |
Changes in share of earnings of equity-accounted investees, net |
|
| 271,568 |
|
| (237,547) |
Gain (loss) on foreign currency translation difference for foreign operation, net |
|
| 481,848 |
|
| 3,626 |
|
|
| 814,373 |
|
| (364,576) |
Total other comprehensive income (loss) |
|
| 631,268 |
|
| (996,382) |
|
|
|
|
|
|
|
Total comprehensive income (loss) |
| ￦ | 3,850,053 |
| ￦ | 648,637 |
|
|
|
|
|
|
|
Comprehensive income (loss) attributable to: |
|
|
|
|
|
|
Owners of the Company |
|
| 3,535,326 |
|
| 553,869 |
Non-controlling interests |
|
| 314,727 |
|
| 94,768 |
Total comprehensive income (loss) |
| ￦ | 3,850,053 |
| ￦ | 648,637 |
HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018
|
| Capital stock |
| Capital surplus |
| Other capital items |
| Accumulated other comprehensive income (loss) |
| Retained earnings |
| Total equity attributable to the owners of the Company |
| Non- controlling interests |
| Total equity | ||||||||
|
| (In millions of Korean Won) | ||||||||||||||||||||||
Balance at January 1, 2018 |
| ￦ | 1,488,993 |
| ￦ | 4,201,214 |
| ￦ | (1,640,096) |
| ￦ | (2,278,955) |
| ￦ | 67,332,328 |
| ￦ | 69,103,484 |
| ￦ | 5,653,870 |
| ￦ | 74,757,354 |
Changes in accounting standards |
|
| - |
|
| - |
|
| - |
|
| (340,268) |
|
| 188,665 |
|
| (151,603) |
|
| (71,337) |
|
| (222,940) |
Balances after adjustments |
|
| 1,488,993 |
|
| 4,201,214 |
|
| (1,640,096) |
|
| (2,619,223) |
|
| 67,520,993 |
|
| 68,951,881 |
|
| 5,582,533 |
|
| 74,534,414 |
Comprehensive income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the period |
|
| - |
|
| - |
|
| - |
|
| - |
|
| 1,508,084 |
|
| 1,508,084 |
|
| 136,935 |
|
| 1,645,019 |
Gain (loss) on financial assets measured at FVOCI, net |
|
| - |
|
| - |
|
| - |
|
| (93,248) |
|
| (11,510) |
|
| (104,758) |
|
| (901) |
|
| (105,659) |
Loss on valuation of cash flow hedge derivatives, net |
|
| - |
|
| - |
|
| - |
|
| (69,896) |
|
| - |
|
| (69,896) |
|
| (54,225) |
|
| (124,121) |
Changes in valuation of equity-accounted investees, net |
|
| - |
|
| - |
|
| - |
|
| (261,658) |
|
| (67,347) |
|
| (329,005) |
|
| (1,715) |
|
| (330,720) |
Remeasurements of defined benefit plans |
|
| - |
|
| - |
|
| - |
|
| - |
|
| (443,505) |
|
| (443,505) |
|
| 3,997 |
|
| (439,508) |
Gain (loss) on foreign currency translation difference for foreign operation, net |
|
| - |
|
| - |
|
| - |
|
| (7,051) |
|
| - |
|
| (7,051) |
|
| 10,677 |
|
| 3,626 |
Total comprehensive Income |
|
| - |
|
| - |
|
| - |
|
| (431,853) |
|
| 985,722 |
|
| 553,869 |
|
| 94,768 |
|
| 648,637 |
Transactions with owners, recorded directly in equity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payment of cash Dividends |
|
| - |
|
| - |
|
| - |
|
| - |
|
| (1,076,734) |
|
| (1,076,734) |
|
| (50,727) |
|
| (1,127,461) |
Increase in paid-in capital of subsidiaries by issuing stock |
|
| - |
|
| - |
|
| - |
|
| - |
|
| - |
|
| - |
|
| 10 |
|
| 10 |
Acquisitions of investment of subsidiaries |
|
| - |
|
| - |
|
| - |
|
| - |
|
| - |
|
| - |
|
| 3,181 |
|
| 3,181 |
Purchases of treasury stocks |
|
| - |
|
| - |
|
| (454,734) |
|
| - |
|
| - |
|
| (454,734) |
|
| - |
|
| (454,734) |
Retirement of treasury stocks |
|
| - |
|
| - |
|
| 939,586 |
|
| - |
|
| (939,586) |
|
| - |
|
| - |
|
| - |
Issue of hybrid bond |
|
| - |
|
| - |
|
| - |
|
| - |
|
| - |
|
| - |
|
| 299,240 |
|
| 299,240 |
Others |
|
| - |
|
| - |
|
| - |
|
| - |
|
| (313) |
|
| (313) |
|
| (6,964) |
|
| (7,277) |
Total transactions with owners, recorded directly in equity |
|
| - |
|
| - |
|
| 484,852 |
|
| - |
|
| (2,016,633) |
|
| (1,531,781) |
|
| 244,740 |
|
| (1,287,041) |
Balance at December 31, 2018 |
| ￦ | 1,488,993 |
| ￦ | 4,201,214 |
| ￦ | (1,155,244) |
| ￦ | (3,051,076) |
| ￦ | 66,490,082 |
| ￦ | 67,973,969 |
| ￦ | 5,922,041 |
| ￦ | 73,896,010 |
(Continued)
HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018 (CONTINUED)
|
| Capital stock |
| Capital surplus |
| Other capital items |
| Accumulated other comprehensive income (loss) |
| Retained earnings |
| Total equity attributable to the owners of the Company |
| Non- controlling interests |
| Total equity |
| ||||||||
|
| (In millions of Korean Won) |
| ||||||||||||||||||||||
Balance at January 1, 2019 |
| ￦ | 1,488,993 |
| ￦ | 4,201,214 |
| ￦ | (1,155,244) |
| ￦ | (3,051,076) |
| ￦ | 66,490,082 |
| ￦ | 67,973,969 |
| ￦ | 5,922,041 |
| ￦ | 73,896,010 |
|
Comprehensive income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the period |
|
| - |
|
| - |
|
| - |
|
| - |
|
| 2,994,417 |
|
| 2,994,417 |
|
| 224,368 |
|
| 3,218,785 |
|
Gain (loss) on financial assets measured at FVOCI, net |
|
| - |
|
| - |
|
| - |
|
| (26,426) |
|
| (1,294) |
|
| (27,720) |
|
| 5,661 |
|
| (22,059) |
|
Loss on valuation of cash flow hedge derivatives, net |
|
| - |
|
| - |
|
| - |
|
| 34,570 |
|
| - |
|
| 34,570 |
|
| 10,481 |
|
| 45,051 |
|
Changes in valuation of equity-accounted investees, net |
|
| - |
|
| - |
|
| - |
|
| 276,430 |
|
| (108,962) |
|
| 167,468 |
|
| 12,104 |
|
| 179,572 |
|
Remeasurements of defined benefit plans |
|
| - |
|
| - |
|
| - |
|
| - |
|
| (46,889) |
|
| (46,889) |
|
| (6,255) |
|
| (53,144) |
|
Gain on foreign currency translation difference for foreign operation, net |
|
| - |
|
| - |
|
| - |
|
| 413,480 |
|
| - |
|
| 413,480 |
|
| 68,368 |
|
| 481,848 |
|
Total comprehensive Income |
|
| - |
|
| - |
|
| - |
|
| 698,054 |
|
| 2,837,272 |
|
| 3,535,326 |
|
| 314,727 |
|
| 3,850,053 |
|
Transactions with owners, recorded directly in equity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payment of cash dividends |
|
| - |
|
| - |
|
| - |
|
| - |
|
| (1,063,331) |
|
| (1,063,331) |
|
| (58,503) |
|
| (1,121,834) |
|
Increase in paid-in capital of subsidiaries by issuing stock |
|
| - |
|
| - |
|
| - |
|
| - |
|
| - |
|
| - |
|
| 4,806 |
|
| 4,806 |
|
Acquisitions of investment of subsidiaries |
|
| - |
|
| - |
|
| - |
|
| - |
|
| - |
|
| - |
|
| 13,004 |
|
| 13,004 |
|
Disposals of investment of subsidiaries |
|
| - |
|
| - |
|
| - |
|
| - |
|
| - |
|
| - |
|
| (19,637) |
|
| (19,637) |
|
Purchases of treasury stocks |
|
| - |
|
| - |
|
| (458,031) |
|
| - |
|
| - |
|
| (458,031) |
|
| - |
|
| (458,031) |
|
Disposal of treasury stocks |
|
| - |
|
| 2,163 |
|
| 96,458 |
|
| - |
|
| - |
|
| 98,621 |
|
| - |
|
| 98,621 |
|
Issue of hybrid bond |
|
| - |
|
| - |
|
| - |
|
| - |
|
| - |
|
| - |
|
| 150,323 |
|
| 150,323 |
|
Others |
|
| - |
|
| (6,362) |
|
| - |
|
| - |
|
| (2) |
|
| (6,364) |
|
| (8,011) |
|
| (14,375) |
|
Total transactions with owners, recorded directly in equity |
|
| - |
|
| (4,199) |
|
| (361,573) |
|
| - |
|
| (1,063,333) |
|
| (1,429,105) |
|
| 81,982 |
|
| (1,347,123) |
|
Balance at December 31, 2019 |
| ￦ | 1,488,993 |
| ￦ | 4,197,015 |
| ￦ | (1,516,817) |
| ￦ | (2,353,022) |
| ￦ | 68,264,021 |
| ￦ | 70,080,190 |
| ￦ | 6,318,750 |
| ￦ | 76,398,940 |
|
(Concluded)
HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018
|
|
|
| 2019 |
| 2018 | ||
|
|
|
| (In millions of Korean Won) | ||||
Cash flows from operating activities: |
|
|
|
|
|
| ||
Cash generated from operations: |
|
|
|
|
|
| ||
Profit for the period |
|
|
| ￦ | 3,218,785 |
| ￦ | 1,645,019 |
Adjustments |
|
|
|
| 15,130,447 |
|
| 14,036,476 |
Changes in operating assets and liabilities |
|
|
|
| (14,711,173) |
|
| (9,592,809) |
|
|
|
|
| 3,638,059 |
|
| 6,088,686 |
Interest received |
|
|
|
| 672,283 |
|
| 696,134 |
Interest paid |
|
|
|
| (2,073,310) |
|
| (1,950,392) |
Dividend received |
|
|
|
| 204,455 |
|
| 206,323 |
Income tax paid |
|
|
|
| (1,070,958) |
|
| (1,276,486) |
Net cash provided by operating activities |
|
|
|
| 1,370,529 |
|
| 3,764,265 |
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
Changes in short-term financial instruments |
|
|
|
| (5,610) |
|
| (232,528) |
Decreases in other financial assets (current), net |
|
|
|
| 495,541 |
|
| 2,596,564 |
Decreases in other financial assets (non-current) |
|
|
|
| 7,189 |
|
| 141,979 |
Collection of other receivables |
|
|
|
| 51,417 |
|
| 79,241 |
Disposals of long-term financial instruments |
|
|
|
| 2,861 |
|
| 47 |
Proceeds from disposals of property, plant and equipment |
|
|
|
| 85,901 |
|
| 105,116 |
Proceeds from disposals of intangible assets |
|
|
|
| 2,605 |
|
| 4,714 |
Proceeds from disposals of investments in joint ventures and associates |
|
|
|
| 1,404 |
|
| - |
Proceeds from acquisition of investment of subsidiaries |
|
|
|
| 13,004 |
|
| 5,271 |
Increases in other financial assets (non-current) |
|
|
|
| (679,741) |
|
| (125,123) |
Increases in other receivables |
|
|
|
| (49,631) |
|
| (56,755) |
Purchases of long-term financial instruments |
|
|
|
| (18,759) |
|
| (16,691) |
Acquisitions of property, plant and equipment |
|
|
|
| (4,537,461) |
|
| (3,226,486) |
Acquisitions of intangible assets |
|
|
|
| (1,716,680) |
|
| (1,632,711) |
Acquisitions of investments in joint ventures and associates |
|
|
|
| (588,541) |
|
| (61,772) |
Others |
|
|
|
| 56,572 |
|
| 4,070 |
Net cash used in investing activities |
|
|
|
| (6,879,929) |
|
| (2,415,064) |
(Continued)
HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018 (CONTINUED)
|
|
|
| 2019 |
| 2018 | ||
|
|
|
| (In millions of Korean Won) | ||||
Cash flows from financing activities: |
|
|
|
|
|
| ||
Proceeds from (Repayment of) short-term borrowings, net |
|
|
| ￦ | 1,418,012 |
| ￦ | 2,167,765 |
Proceeds from long-term debt and debentures |
|
|
|
| 25,557,933 |
|
| 18,561,982 |
Proceeds from capital contribution from non-controlling interest |
|
|
|
| 4,806 |
|
| 10 |
Repayment of long-term debt and debentures |
|
|
|
| (20,433,457) |
|
| (20,228,806) |
Repayment of lease liabilities |
|
|
|
| (159,604) |
|
| - |
Purchases of treasury stocks |
|
|
|
| (458,031) |
|
| (454,734) |
Dividends paid |
|
|
|
| (1,121,820) |
|
| (1,127,452) |
Issue of hybrid bond |
|
|
|
| 150,323 |
|
| 299,240 |
Others |
|
|
|
| (83,236) |
|
| (98,787) |
Net cash provided by (used in) financing activities |
|
|
|
| 4,874,926 |
|
| (880,782) |
|
|
|
|
|
|
|
|
|
Decrease due to transfer to assets classified as held for sale |
|
|
|
| - |
|
| (97,050) |
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents |
|
|
|
| 202,820 |
|
| (79,273) |
|
|
|
|
|
|
|
|
|
Net increase in cash and cash equivalents |
|
|
|
| (431,654) |
|
| 292,096 |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents, beginning of the period |
|
|
| ￦ | 9,113,625 |
| ￦ | 8,821,529 |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents, end of the period |
|
|
| ￦ | 8,681,971 |
| ￦ | 9,113,625 |
(Concluded)
HYUNDAI MOTOR COMPANY
SEPARATE STATEMENTS OF FINANCIAL POSITION
AS OF DECEMBER 31, 2019 AND 2018
ASSETS |
|
|
| December 31, 2019 |
| December 31, 2018 | ||
|
|
|
| (In millions of Korean Won) | ||||
Current assets: |
|
|
|
|
|
| ||
Cash and cash equivalents |
|
|
| ￦ | 382,000 |
| ￦ | 194,203 |
Short-term financial instruments |
|
|
|
| 5,793,630 |
|
| 6,478,598 |
Other financial assets |
|
|
|
| 6,983,208 |
|
| 7,444,315 |
Trade notes and accounts receivable |
|
|
|
| 4,733,426 |
|
| 3,868,219 |
Other receivables |
|
|
|
| 1,118,882 |
|
| 1,163,329 |
Inventories |
|
|
|
| 3,065,329 |
|
| 2,863,652 |
Non-current assets classified as held for sale |
|
|
|
| - |
|
| 45,386 |
Other assets |
|
|
|
| 270,317 |
|
| 267,367 |
Total current assets |
|
|
|
| 22,346,792 |
|
| 22,325,069 |
|
|
|
|
|
|
|
|
|
Non-current assets: |
|
|
|
|
|
|
|
|
Long-term financial instruments |
|
|
|
| 682,334 |
|
| 186 |
Other financial assets |
|
|
|
| 2,359,601 |
|
| 1,795,026 |
Long-term trade notes and accounts receivable |
|
|
|
| 20,449 |
|
| 13,858 |
Other receivables |
|
|
|
| 475,659 |
|
| 498,246 |
Property, plant and equipment |
|
|
|
| 24,413,350 |
|
| 22,904,948 |
Investment property |
|
|
|
| 143,237 |
|
| 156,206 |
Intangible assets |
|
|
|
| 4,270,089 |
|
| 3,915,129 |
Investments in subsidiaries, joint ventures and associates |
|
|
|
| 18,416,453 |
|
| 17,533,271 |
Deferred tax assets |
|
|
|
| 862,064 |
|
| 593,437 |
Right-of-use assets |
|
|
|
| 148,128 |
|
| - |
Other assets |
|
|
|
| 19,063 |
|
| 7,132 |
Total non-current assets |
|
|
|
| 51,810,427 |
|
| 47,417,439 |
|
|
|
|
|
|
|
|
|
Total assets |
|
|
| ￦ | 74,157,219 |
| ￦ | 69,742,508 |
(Continued)
HYUNDAI MOTOR COMPANY
SEPERATE STATEMENTS OF FINANCIAL POSITION
AS OF DECEMBER 31, 2019 AND 2018 (CONTINUED)
LIABILITIES AND EQUITY |
|
|
| December 31, 2019 |
| December 31, 2018 | ||
|
|
|
| (In millions of Korean Won) | ||||
Current liabilities: |
|
|
|
|
|
| ||
Trade notes and accounts payable |
|
|
| ￦ | 4,349,005 |
| ￦ | 4,134,287 |
Other payables |
|
|
|
| 3,275,483 |
|
| 3,016,119 |
Short-term borrowings |
|
|
|
| 3,293,370 |
|
| 2,283,963 |
Current portion of long-term debt and debentures |
|
|
|
| 648,368 |
|
| 323,129 |
Income tax payable |
|
|
|
| 207,081 |
|
| 55,426 |
Provisions |
|
|
|
| 1,936,640 |
|
| 1,855,748 |
Other financial liabilities |
|
|
|
| 12 |
|
| 785 |
Lease liabilities |
|
|
|
| 49,478 |
|
| - |
Other liabilities |
|
|
|
| 1,389,431 |
|
| 1,067,856 |
Total current liabilities |
|
|
|
| 15,148,868 |
|
| 12,737,313 |
|
|
|
|
|
|
|
|
|
Non-current liabilities: |
|
|
|
|
|
|
|
|
Long-term other payables |
|
|
|
| 825,824 |
|
| - |
Debentures |
|
|
|
| 299,617 |
|
| 299,405 |
Long-term debt |
|
|
|
| 676,957 |
|
| 971,688 |
Net defined benefit liabilities |
|
|
|
| 320,843 |
|
| 329,919 |
Provisions |
|
|
|
| 2,521,136 |
|
| 2,522,362 |
Other financial liabilities |
|
|
|
| 2,546 |
|
| 33 |
Lease liabilities |
|
|
|
| 90,213 |
|
| - |
Other liabilities |
|
|
|
| 352,206 |
|
| 306,001 |
Total non-current liabilities |
|
|
|
| 5,089,342 |
|
| 4,429,408 |
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
|
| 20,238,210 |
|
| 17,166,721 |
|
|
|
|
|
|
|
|
|
Equity: |
|
|
|
|
|
|
|
|
Capital stock |
|
|
|
| 1,488,993 |
|
| 1,488,993 |
Capital surplus |
|
|
|
| 4,012,033 |
|
| 4,009,870 |
Other capital items |
|
|
|
| (1,516,817) |
|
| (1,155,244) |
Accumulated other comprehensive loss |
|
|
|
| 64,476 |
|
| 94,617 |
Retained earnings |
|
|
|
| 49,870,324 |
|
| 48,137,551 |
Total equity |
|
|
|
| 53,919,009 |
|
| 52,575,787 |
|
|
|
|
|
|
|
|
|
Total liabilities and equity |
|
|
| ￦ | 74,157,219 |
| ￦ | 69,742,508 |
(Concluded)
HYUNDAI MOTOR COMPANY
SEPERATE STATEMENTS OF INCOME
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018
|
|
|
| 2019 |
| 2018 | ||
|
|
|
| (In millions of Korean Won, except per share amounts) | ||||
Sales |
|
|
| ￦ | 49,155,693 |
| ￦ | 43,160,108 |
|
|
|
|
|
|
|
|
|
Cost of sales |
|
|
|
| 40,324,396 |
|
| 36,403,490 |
|
|
|
|
|
|
|
|
|
Gross profit |
|
|
|
| 8,831,297 |
|
| 6,756,618 |
|
|
|
|
|
|
|
|
|
Selling and administrative expenses |
|
|
|
| 7,251,133 |
|
| 6,815,940 |
|
|
|
|
|
|
|
|
|
Operating profit |
|
|
|
| 1,580,164 |
|
| (59,322) |
|
|
|
|
|
|
|
|
|
Gain on investments in joint ventures and associates, net |
|
|
|
|
181,110 |
|
| (191,079) |
Finance income |
|
|
|
| 1,562,521 |
|
| 1,076,260 |
Finance expenses |
|
|
|
| 144,315 |
|
| 198,306 |
Other income |
|
|
|
| 866,840 |
|
| 913,634 |
Other expenses |
|
|
|
| 856,427 |
|
| 831,239 |
|
|
|
|
|
|
|
|
|
Profit before income tax |
|
|
|
| 3,189,893 |
|
| 709,948 |
|
|
|
|
|
|
|
|
|
Income tax expense (benefit) |
|
|
|
| 357,604 |
|
| 295,007 |
|
|
|
|
|
|
|
|
|
Profit for the period |
|
|
| ￦ | 2,832,289 |
| ￦ | 414,941 |
|
|
|
|
|
|
|
|
|
Earnings per share |
|
|
|
|
|
|
|
|
Basic earnings per share: |
|
|
|
|
|
|
|
|
Common stock |
|
|
| ￦ | 10,749 |
| ￦ | 1,536 |
1st preferred stock |
|
|
| ￦ | 10,793 |
| ￦ | 1,586 |
Diluted earnings per share: |
|
|
|
|
|
|
|
|
Common stock |
|
|
| ￦ | 10,749 |
| ￦ | 1,536 |
1st preferred stock |
|
|
| ￦ | 10,793 |
| ￦ | 1,586 |
HYUNDAI MOTOR COMPANY
SEPERATE STATEMENTS OF COMPREHENSIVE INCOME
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018
|
| 2019 |
| 2018 | ||
|
| (In millions of Korean Won) | ||||
Profit for the year |
| ￦ | 2,832,289 |
| ￦ | 414,941 |
|
|
|
|
|
|
|
Other comprehensive income (loss): |
|
|
|
|
|
|
Items that will not be reclassified subsequently to profit or loss: |
|
|
|
|
|
|
Profit (loss) on financial assets measured at FVOCI, net |
|
| (44,270) |
|
| (102,669) |
Remeasurements of defined benefit plans |
|
| (34,891) |
|
| (428,426) |
|
|
| (79,161) |
|
| (531,095) |
Items that may be reclassified subsequently to profit or loss: |
|
|
|
|
|
|
Gain (loss) on valuation of cash flow hedge derivatives, net |
|
| 12,835 |
|
| (1,008) |
|
|
| 12,835 |
|
| (1,008) |
Total other comprehensive income (loss) |
|
| (66,326) |
|
| (532,103) |
|
|
|
|
|
|
|
Total comprehensive income (loss) |
| ￦ | 2,765,963 |
| ￦ | (117,162) |
|
|
|
|
|
|
|
HYUNDAI MOTOR COMPANY
SEPERATE STATEMENTS OF CHANGES IN EQUITY
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018
|
| Capital stock |
| Capital surplus |
| Other capital items |
| Accumulated other comprehensive income (loss) |
| Retained earnings |
|
| Total equity | ||||||
|
|
| |||||||||||||||||
Balance at January 1, 2018 |
| ￦ | 1,488,993 |
| ￦ | 4,009,870 |
| ￦ | (1,640,095) |
| ￦ | 480,092 |
| ￦ | 49,885,558 |
|
| ￦ | 54,224,418 |
Changes in accounting standards |
|
| - |
|
| - |
|
| - |
|
| (293,309) |
|
| 293,309 |
|
|
| - |
Balances after adjustments |
|
| 1,488,993 |
|
| 4,009,870 |
|
| (1,640,095) |
|
| 186,783 |
|
| 50,178,867 |
|
|
| 54,224,418 |
Payment of cash dividends |
|
| - |
|
| - |
|
| - |
|
| - |
|
| (1,076,734) |
|
|
| (1,076,734) |
Purchases of treasury stocks |
|
| - |
|
| - |
|
| (454,735) |
|
| - |
|
| - |
|
|
| (454,735) |
Retirement of treasury stocks |
|
| - |
|
| - |
|
| 939,586 |
|
| - |
|
| (939,586) |
|
|
| - |
Gain (loss) on financialassets measured atFVOCI, net |
|
| - |
|
| - |
|
| - |
|
| (91,158) |
|
| (11,511) |
|
|
| (102,669) |
Loss on valuation ofcash flow hedgederivatives, net |
|
| - |
|
| - |
|
| - |
|
| (1,008) |
|
| - |
|
|
| (1,008) |
Remeasurements ofdefined benefit plans |
|
| - |
|
| - |
|
| - |
|
| - |
|
| (428,426) |
|
|
| (428,426) |
Profit for the year |
|
| - |
|
| - |
|
| - |
|
| - |
|
| 414,941 |
|
|
| 414,941 |
Balance at December 31, 2018 |
| ￦ | 1,488,993 |
| ￦ | 4,009,870 |
| ￦ | (1,155,244) |
| ￦ | 94,617 |
| ￦ | 48,137,551 |
|
| ￦ | 52,575,787 |
Balance at January 1, 2019 |
| ￦ | 1,488,993 |
| ￦ | 4,009,870 |
| ￦ | (1,155,244) |
| ￦ | 94,617 |
| ￦ | 48,137,551 |
|
| ￦ | 52,575,787 |
Payment of cash dividends |
|
| - |
|
| - |
|
| - |
|
| - |
|
| (1,063,331) |
|
|
| (1,063,331) |
Purchases of treasury stocks |
|
| - |
|
| - |
|
| (458,031) |
|
| - |
|
| - |
|
|
| (458,031) |
Disposal of treasury stocks |
|
| - |
|
| 2,163 |
|
| 96,458 |
|
| - |
|
| - |
|
|
| 98,621 |
Gain (loss) on financialassets measured atFVOCI, net |
|
| - |
|
| - |
|
| - |
|
| (42,976) |
|
| (1,294) |
|
|
| (44,270) |
Loss on valuation ofcash flow hedgederivatives, net |
|
| - |
|
| - |
|
| - |
|
| 12,835 |
|
| - |
|
|
| 12,835 |
Remeasurements ofdefined benefit plans |
|
| - |
|
| - |
|
| - |
|
| - |
|
| (34,891) |
|
|
| (34,891) |
Profit for the year |
|
| - |
|
| - |
|
| - |
|
| - |
|
| 2,832,289 |
|
|
| 2,832,289 |
Balance at December 31, 2019 |
| ￦ | 1,488,993 |
| ￦ | 4,012,033 |
| ￦ | (1,516,817) |
| ￦ | 64,476 |
| ￦ | 49,870,324 |
|
| ￦ | 53,919,009 |
(Concluded)
HYUNDAI MOTOR COMPANY
SEPARATE STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018
|
|
|
| 2019 |
| 2018 | ||
|
|
|
| (In millions of Korean Won) | ||||
Cash flows from operating activities: |
|
|
|
|
|
| ||
Cash generated from operations: |
|
|
|
|
|
| ||
Profit for the year |
|
|
| ￦ | 2,832,289 |
| ￦ | 414,941 |
Adjustments |
|
|
|
| 3,449,795 |
|
| 4,094,850 |
Changes in operating assets and liabilities |
|
|
|
| (1,521,506) |
|
| (3,142,766) |
|
|
|
|
| 4,760,578 |
|
| 1,367,025 |
Interest received |
|
|
|
| 277,444 |
|
| 360,805 |
Interest paid |
|
|
|
| (132,884) |
|
| (142,051) |
Dividend received |
|
|
|
| 1,150,356 |
|
| 691,099 |
Income tax paid |
|
|
|
| (450,238) |
|
| (617,659) |
Net cash provided by operating activities |
|
|
|
| 5,605,256 |
|
| 1,659,219 |
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
Proceeds from purchases of short-term financial instruments, net |
|
|
|
| 3,360 |
|
| 44,893 |
Proceeds from disposals (purchases) of other financial assets (current), net |
|
|
|
| 487,320 |
|
| 2,603,653 |
Receipts from other receivables |
|
|
|
| 30,066 |
|
| 70,027 |
Proceeds from disposals of other financial assets (non-current) |
|
|
|
| 1,261 |
|
| 82,823 |
Proceeds from disposals of property, plant and equipment |
|
|
|
| 57,168 |
|
| 79,133 |
Proceeds from disposals of intangible assets |
|
|
|
| 1,683 |
|
| 1,140 |
Disposal of assets classified as held for sale |
|
|
|
| 43,830 |
|
| - |
Acquisitions of other financial assets (non-current) |
|
|
|
| (555,791) |
|
| (74,760) |
Increases in other receivables |
|
|
|
| (31,902) |
|
| (39,961) |
Acquisitions of property, plant and equipment |
|
|
|
| (2,727,245) |
|
| (1,993,920) |
Acquisitions of intangible assets |
|
|
|
| (1,491,369) |
|
| (1,442,606) |
Acquisitions of investments in subsidiaries, joint ventures and associates |
|
|
|
| (701,466) |
|
| (100,097) |
Net cash used in investing activities |
|
|
|
| (4,879,282) |
|
| (769,633) |
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
Proceeds from short-term borrowings, net |
|
|
|
| 1,042,608 |
|
| 728,055 |
Repayment of lease liabilities |
|
|
|
| (59,438) |
|
| - |
Purchase of treasury stock |
|
|
|
| (458,031) |
|
| (454,735) |
Dividends paid |
|
|
|
| (1,063,316) |
|
| (1,076,725) |
Net cash used in financing activities |
|
|
|
| (538,177) |
|
| (803,405) |
|
|
|
|
|
|
|
|
|
Net decrease in cash and cash equivalents |
|
|
|
| 187,797 |
|
| 86,181 |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents, beginning of the year |
|
|
|
| 194,203 |
|
| 108,022 |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents, end of the year |
|
|
| ￦ | 382,000 |
| ￦ | 194,203 |
Item 2: Partial Amendment of the Articles of Incorporation
Agenda | Pre-amended Provision | Post-amended Provision | Purpose of Amendment |
Article 2 (Business Purpose) | (1) To manufacture and sell all kinds of vehicles and component parts thereof | (1) To manufacture and sell all kinds of vehicles and other means of transportation and component parts thereof | To pursue various types of new future mobility business as outlined during Strategy 2025 Presentation in order to transform into a smart mobility solution provider |
| (31) To engage in charging business applicable to all types of vehicle including electrified vehicles, and all other related business | To pursue new business, such as building charging stations for electrified vehicles | |
(31) To operate all related business with above purposes | (32) To operate all related business with above purposes |
| |
Addendum |
| Addendum (2020.3.19) Article 1. (Effective Date)The amended articles of Incorporation shall become effective on the resolution date of the annual general meeting of shareholders for the 52nd fiscal year |
|
Item 3: Appointment of Director(s)
l Item 3-1 : Appointment of an Independent Director
*Nominee (1 person)
Name | Date of birth | Major Career | Transaction with the Company |
Recommended by | |||
Choi, Eun Soo | July, 1954 | ·; Legal advisor of DR & AJU Law Firm (current) ·; President of Daejeon High Court and Patent Court (former) | None |
IDCRC1 |
l Item 3-2 : Appointment of an Internal Director
*Nominee (1 person)
Name | Date of birth | Major Career | Transaction with the Company |
Recommended by | |||
Kim, Sang Hyun | December, 1968 | ·; CFO, Head of Finance & Accounting Division (current) ·; Head of Finance & Accounting Sub-Division (former) | Owns 135 common shares ofthe Company |
BOD2 |
Item 4: Appointment of Audit Committee Member(s)
*Nominee (1 person)
Name | Date of birth | Major Career | Transaction with the Company |
Recommended by | |||
Choi, Eun Soo | July, 1954 | ·; Legal advisor of DR & AJU Law Firm (current) ·; President of Daejeon High Court and Patent Court (former) | None |
IDCRC1 |
1. Independent Director Candidate Recommendation Committee
2. Board of Directors
Item 5: Approval of Ceiling Amount of Remuneration for Directors
Year | Number of BOD | Ceiling Amount |
2020 | 11 persons | 13.5 billion Korean Won |
Related Shares:
Hyundai Mtr.gdr