Hyundai Home Shopping Sees Increased Handling Volume in Q2 but Operating Profit Declines

T-Commerce and Mobile Growth... Food, Lifestyle, and Home Appliances Perform Well
Reverse Base Effect Due to One-Time Profit Last Year

[Asia Economy Reporter Cha Min-young] Hyundai Home Shopping announced on the 11th that its consolidated operating profit for the second quarter of this year (provisional) was 43.1 billion KRW, a 5.2% decrease compared to the same period last year. During the same period, sales increased by 2.1% to 569.8 billion KRW, while net profit decreased by 11.0% to 38.0 billion KRW.

Hyundai Home Shopping explained, "The company's total transaction volume grew by 4.7% year-on-year due to steady growth in T-commerce and mobile," adding, "In particular, sales of daily necessities such as food, kitchenware, home interior products, masks, and home appliances like air conditioners showed strong performance."

In fact, T-commerce transaction volume grew the most significantly, increasing by 26.4% compared to the previous year. Internet sales grew by 4.9%, and mobile sales increased by 8.9%.

However, operating profit declined due to a base effect caused by one-time gains such as last year's satellite transmission fee refunds. Considering this, it is explained that there was a slight growth.