Hyundai GLOVIS reported on the 6th that its sales for 2024 were provisionally estimated at 28.4074 trillion won and its operating profit at 1.7529 trillion won.
According to the Financial Supervisory Service's electronic disclosure system, Hyundai GLOVIS's sales increased by 10.6% and operating profit by 12.8% compared to 2023. Net profit rose to 1.1089 trillion won, a 3.6% increase, and the annual operating profit margin stands at 6.2%.
Hyundai GLOVIS surpassed its largest-ever sales of 26.9818 trillion won in 2022. A Hyundai GLOVIS official explained, "This is the result of concentrating on challenging and profitability-oriented management amid uncertain variables such as interest rate cuts in major countries and the expansion of global protectionism."
In the fourth quarter of last year, sales and operating profit were 7.2879 trillion won and 459.8 billion won, respectively, marking increases of 11.8% and 31.1% compared to the previous year.
In the logistics business, sales were 2.6222 trillion won and operating profit was 235.3 billion won in the fourth quarter. Annually, sales reached 9.914 trillion won, and operating profit was 830.8 billion won. Despite a decline in domestic finished vehicle sales, increased overseas sales propelled the results.
In the shipping business, fourth-quarter sales reached 1.3531 trillion won with operating profit amounting to 96.8 billion won. The annual results accounted for sales of 5.1209 trillion won and operating profit of 366.1 billion won. In the distribution sector, fourth-quarter sales and operating profit were recorded at 3.3126 trillion won and 127.7 billion won, respectively. Annual results showed sales of 13.3725 trillion won and operating profit of 556 billion won.
Hyundai GLOVIS set its sales target for this year at between 28 trillion and 29 trillion won and its operating profit target at between 1.8 trillion and 1.9 trillion won.
It also decided on a cash dividend of 3,700 won per share, with a total dividend amount of 277.5 billion won.