Hyundai Glovis Achieves Record Q3 Operating Profit of 566.5 Billion Won

Hyundai Glovis has announced its highest-ever quarterly operating profit of 566.5 billion won for the third quarter of this year. This remarkable performance is attributed to the company's expanded logistics operations in North America and the growth of non-affiliated shipping activities.

The company reported consolidated revenue of 9.0536 trillion won, marking a 23.1% increase compared to the same period last year. The operating margin stood at 6.3%, showcasing effective management strategies amid external market uncertainties.

In the logistics segment, revenue reached 2.9502 trillion won, with an operating profit of 223.3 billion won, reflecting year-on-year increases of 17.9% and 19.6%, respectively. This growth was largely driven by increased logistics volumes and favorable market conditions.

The shipping segment also saw significant growth, with revenue rising 37.1% to 1.8137 trillion won and operating profit up 16.6% to 227.9 billion won. Analysts have noted that the company's focus on high-freight-rate non-affiliated businesses has contributed to these impressive results.

Despite challenges in the distribution segment, where operating profit decreased due to market conditions, Hyundai Glovis remains committed to enhancing its role as a reliable global supply chain partner, aiming to generate stable profits moving forward.