Hyundai Glovis Achieves Record Quarterly Revenue and Operating Profit

[Financial News] Hyundai Glovis has recorded the highest quarterly revenue and operating profit in its history.
Hyundai Glovis announced on the 24th that its second-quarter revenue was 7.516 trillion won, and operating profit was 538.9 billion won. This represents an increase of 6.4% and 22.7% respectively compared to the same period last year. Net income for the period increased by 60.5% year-on-year to 502.6 billion won. The operating profit margin is 7.2%.
For the first half of the year, total revenue was 14.7394 trillion won, and operating profit was 1.0408 trillion won. This marks an increase of 7.6% and 30.1% respectively compared to the same period last year. This is the result of focusing on cost improvement through rationalization of fleet operations in the shipping sector and expanding non-affiliated sales.
A Hyundai Glovis representative explained, “Despite the challenging business environment with changes in major countries' trade policies and heightened geopolitical risks in the second quarter, we achieved favorable results by providing stable logistics services to existing clients while strategically focusing on expanding non-affiliated sales.”
In the logistics sector for the second quarter, revenue reached 2.5889 trillion won and operating profit was 203.3 billion won, driven by increased overseas inland transportation sales. In shipping, with an increase in non-affiliated customers, revenue was 1.3602 trillion won and operating profit was 200.2 billion won. In the distribution business, with an expansion in parts volume, revenue and operating profit were 3.5669 trillion won and 135.4 billion won, respectively.
Hyundai Glovis anticipates that uncertainties in the business environment, such as the deterioration of the global trade environment and economic growth slowdown, will continue in the second half of the year, but plans to focus its capabilities on sustainable growth.
A Hyundai Glovis representative stated, “We will strive to strengthen cost competitiveness while maintaining a profit-centered growth trend through asset efficiency improvement to overcome uncertainties,” adding, “We plan to execute strategies that focus on securing a sustainable growth foundation and enhancing corporate value in the long term, beyond short-term market responses.”
 


ggg@fnnews.com Kang Gugu Reporter