Hyundai GLOVIS recorded the highest quarterly revenue and operating profit.
Hyundai GLOVIS announced on the 24th that its revenue for the second quarter of this year was 7.516 trillion won, and it recorded an operating profit of 538.9 billion won. Revenue increased by 6.4% compared to the same period last year, while operating profit rose by 22.7%. The net profit for the period was reported at 502.6 billion won, an increase of 60.5%.
By business sector, revenue and operating profit in the logistics sector were recorded at 2.5889 trillion won and 203.3 billion won, respectively. The increase in domestic inland transportation revenue contributed to strong performance. The shipping sector reported revenue of 1.3602 trillion won and operating profit of 200.2 billion won, while the distribution sector recorded revenue of 3.5669 trillion won and operating profit of 135.4 billion won.
Operating profit in the shipping institutional sector increased by 155% compared to the same period last year, showing outstanding performance. The company explained that expanding operations beyond the Hyundai Motor Group to other finished vehicle manufacturers contributed to profitability. There were also cost improvements through rationalization of fleet management.
Looking at the first half of this year as a whole, Hyundai GLOVIS reported revenue of 14.7394 trillion won, an increase of 7.6% compared to the same period last year, and an operating profit of 1.0408 trillion won, which is an increase of 30.1%. The company expects to continue strong performance in the second half of the year, projecting annual operating profit to exceed previous forecasts. The company has presented its projections for annual revenue at 28 to 29 trillion won and operating profit at 1.8 trillion to 1.9 trillion won.