Impact of Transmission Fees... Hyundai Home Shopping's 1Q Operating Profit Down 52%

Operating Profit of 16.8 Billion KRW
Sales of 494.4 Billion KRW...3.1% Decrease

Hyundai Home Shopping announced on the 8th that its consolidated operating profit, including Hyundai Home Shopping and Hyundai L&C, for the first quarter of this year was 16.8 billion KRW, down 52% compared to the same period last year. During the same period, sales fell 3.1% to 494.4 billion KRW.

Hyundai Home Shopping's standalone operating profit for the first quarter was 17.9 billion KRW, a decrease of 49.2%. Net sales dropped 1.6% to 266.1 billion KRW. A Hyundai Home Shopping official stated, "With the endemic phase, outdoor activities increased and the lineup of high-priced products such as home appliances was reduced, causing a slight decline in sales," adding, "Operating profit decreased due to factors such as increased transmission fees."