Mando Corporation

April 2022

Recent Highlights

Demonstrated operational resiliency in the midst of challenging market conditions through differentiated topline drivers backed by balanced regional, customer and product portfolio

  • Summary of 1Q22 results

    • • Sales of KRW 1,687.8 bn. (YoY 12.4%)

    • • Operating profit of KRW 68.9 bn. (OPM : 4.1%)

    • • Net profit of KRW 33.3 bn. (NPM : 2.0%)

  • New business wins of KRW 2.4 tn. in 1Q22 (Non-HKMC: 86%, E-Products: 76%)

    • • EPS order in NA region from major global OEM, strengthening foundation for business growth of our star product

    • • 1)SbW order from European EV maker, solidifying leadership in next generation by-wire solution

    • • China local OEMs represented 36% of total order intake, reinforcing strong growth potential in the China market

  • Rebound in China Business

    • • Attributed to improved business portfolio and enhanced cost structure ; refer to slide 5 for more details

  • ESG update

    • • Received 'Anti-Corruption Excellence Award' at the Business Integrity Society Summit 2022 hosted by 2)UNGC and 3)KoSIF

Note: 1) SbW : Steer by Wire

2) UNGC: United Nations Global Compact

3) KoSIF : Korea Sustainability Investing Forum

1Q22 *Sales by Region

Double-digit YoY growth, driven by strong performances in China, NA and India

Korea

North America

(Unit: KRW bn.)

USA, Mexico

(Unit: KRW bn.)

900

500

363.8

450

250

0

0

1Q21

4Q21

1Q22

1Q21

4Q21

1Q22

China

600

300

0

1Q21

Note : Sales to external clients

(Unit: KRW bn.)

522.6

Others

IndiaEurope, South America

300

200

100

0

(Unit: KRW bn.)

4Q21

1Q22

1Q21

4Q21

1Q22

1Q22 Financial Results

(Unit: KRW bn.)

Description

1Q22

1Q21

YoY

4Q21

QoQ

Sales

1,687.8

1,501.5

+186.3

1,722.4

-34.6

+12.4%

-2.0%

(COGS)

(1,444.7)

(1,282.9)

(1,484.9)

EBITDA

152.8

148.7

+4.0

116.7

+36.1

(%)

9.1%

9.9%

-0.9%p

6.8%

+2.3%p

Operating profit

68.9

71.8

-2.9

30.6

+38.3

(%)

4.1%

4.8%

-0.7%p

1.8%

+2.3%p

Interest

-8.2

-10.1

+1.9

-10.6

+2.4

F/X

11.0

6.7

+4.3

-1.7

+12.7

Equity method

-1.1

1.1

-2.2

8.0

-9.1

Profit before tax

52.7

68.1

-15.4

26.1

+26.6

(%)

3.1%

4.5%

-1.4%p

1.5%

+1.6%p

Net income

33.3

52.2

-18.9

20.0

+13.3

(%)

2.0%

3.5%

-1.5%p

1.2%

+0.8%p

※ 1Q22 one-off impact below-OP : Loss on valuation of financial assets KRW 15.6 bn.

Rebound in China Business

Rebound in China led by successful implementation of resilience action plans

China Regional Financials

(Excluding HL Klemove business)

1Q19

5 00 .0

Note : 1) Sales to external clients

1)Sales

1Q20

EBIT%

1Q21

(Unit: KRW bn.)

1Q22

Strong growth through balanced customer portfolio and favorable product mix

Improved cost structure through turnaround initiatives

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Mando Corporation published this content on 29 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2022 07:01:02 UTC.