"Profitability Improvement Across All Business Sectors" Hyundai Green Food Q3 Operating Profit 28.3 Billion KRW... 102% YoY Increase

[Asia Economy Reporter Koo Eun-mo] Hyundai Green Food posted strong third-quarter results, with increased sales and improved profitability across all business sectors, including group catering, food material distribution, and dining services.

Hyundai Green Food announced on the 10th that its consolidated operating profit for the third quarter of this year was 28.3 billion KRW, a 101.6% increase compared to the same period last year. During the same period, sales rose 13.6% to 1.0155 trillion KRW, while net profit decreased by 2.01% to 31.4 billion KRW.

By business segment, the group catering division's operating profit reached 4.1 billion KRW, up 259.4% year-on-year, with sales growing 17.2% to 205.1 billion KRW. This improvement is attributed to the recovery of meal counts at domestic workplaces as remote work eased, and improved profitability at overseas sites such as increased on-site progress rates in Saudi Arabia.

The food material distribution segment also saw sales grow 24.7% year-on-year to 150.6 billion KRW, driven by continued expansion of new orders including supply to military units, with operating profit increasing 54.4% to 4.0 billion KRW.

The dining business experienced a 40.8% increase in sales to 49.2 billion KRW and turned profitable with an operating profit of 1.8 billion KRW, as overall business conditions recovered following the lifting of social distancing measures and customer numbers increased. The expansion of new stores, including three Texas Roadhouse locations, also contributed. Additionally, other businesses saw sales rise 84.8% year-on-year to 8.2 billion KRW, supported by increased marketing and promotional activities in the greeting card business and others.