HL ManDo reported consolidated revenue of 2.3205 trillion KRW in the third quarter, similar to the same period last year, while operating profit was only 51.5 billion KRW. This indicates that the operating margin fell sharply from 45.3% to 2.2%. The combination of rising raw material costs and overlapping investments in next‑generation technology has become key reasons for the deteriorating profitability, and the resulting semiconductor price increases due to supply shortages directly affect R&D expenses.
Researcher Im Eun‑yeong of Yeon‑gu Research Institute noted that “the increase in raw material prices due to expansion of high‑tech and AI system investment is a core cause of the profit deterioration,” analyzing that about 42.5 billion KRW was added to costs in Q3. While the automotive sector faces profitability decline, emphasis was placed on how R&D cost increased by 23.5 billion KRW compared with last year due to autonomous vehicle integration and robotics actuator development.
HL Klermu also recorded a negative operating margin of -4% due to semiconductor price burden; under such circumstances, the fourth quarter results are expected to fall below market expectations and only continue with an operating margin of about 4%. With US government implementing import restrictions on robotic and industrial machinery, HL ManDo’s chance for robot actuators increased, but large‑scale production is predicted to occur after 2028.
Researcher Im said that “the investment timing for high‑tech development will be critical, and such profit would remain in the near future; to gain premium over global peers, we must confirm autonomous vehicle integration and robotics actuator supply.” These prospects are interpreted as important for HL ManDo’s strategic planning and investment direction.
Reporter Han Gyeong‑woo of HaneGyeong.com (case@hankyung.com)