Hyundai Motor's operating profit falls 9.2% on-year in 2014

Hyundai Motor said Thursday its operating profit fell 9.2 percent in 2014 from the previous year due to unfavorable currency situations.

Operating profit reached 7,550.0 billion won, a four-year low, the South Korean automaker said during its 2014 business performance presentation. The event took place at its headquarters in Yangjae-dong, southern Seoul. 

Net profit also dropped 14.9 percent to 7,649.5 billion won on-year in 2014, it said. 

However, sales increased 2.2 percent to 89,256.3 billion won, the highest since the carmaker introduced the International Financial Reporting Standards (IFRS) in 2010.

Hyundai, the country's largest automaker, sold 4,961,877 vehicles worldwide in 2014.  

"Sales grew modestly last year, aided by the launch of the new Genesis and the all-new Sonata. But profitability dropped because of unfavorable currency situations, such as the strong local currency," Hyundai said.