Hanon Systems
Full-line supplier of automotive thermal and energy management solutions.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
* | N/A Valuation: $2.5b 0.3x EV/Revenue 3.6x EV/EBITDA | Acquisition | |
| Total Funding | 000k | ||
| KRW | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | 20 % | (4 %) | 7 % | 17 % | 11 % | 5 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | 11 % | 12 % | 11 % | 11 % | 9 % | 9 % | 8 % |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | 5 % | 4 % | 2 % | 4 % | - | 1 % | (4 %) |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| R&D % of revenue | - | - | 3 % | 2 % | 2 % | 2 % | 2 % |
Source: Company filings or news article
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Hanon Systems began its journey in 1986 as Halla Climate Control, a joint venture between Ford Motor Company and Mando Machinery, part of the Halla Group. This collaboration aimed to create a robust automotive climate control system supplier. However, the Asian financial crisis in 1999 led to significant changes. Halla Group faced bankruptcy, prompting the sale of its stake in the joint venture to Visteon, a company under Ford.
Under Visteon's ownership, the company underwent a transformation. Ford integrated its thermal system businesses into Halla Climate Control, leading to a rebranding as Halla Visteon Climate Control (HVCC) in 2013. This period marked a significant evolution in the company's identity and operations.
In 2015, the company embraced a new chapter by rebranding itself as Hanon Systems. This change signified its independence and ambition to expand its global footprint. Hanon Systems focused on enhancing its technology and expertise in automotive climate systems, becoming a full-line supplier with a diverse product range, including heating, ventilation, air conditioning, and compressors.
Today, Hanon Systems stands as a testament to resilience and adaptability in the automotive industry. Its journey from a joint venture to a global leader highlights the company's ability to navigate challenges and seize opportunities for growth.
