Hyundai Glovis Achieves Record High Sales of 28 Trillion Won Last Year After Two Years

Operating Profit Reaches 1.75 Trillion KRW, Up 12% Year-on-Year
Year-End Dividend Set at 3,700 KRW Per Share

Hyundai Glovis announced on the 6th that its operating profit increased by 12.8% year-on-year to 1.7529 trillion KRW last year.

Revenue recorded 28.4074 trillion KRW, up 10.6% from the previous year, breaking the all-time high of 26.9818 trillion KRW achieved in 2022. The annual operating profit margin was 6.2%.

Hyundai Glovis explained, "Despite uncertain external variables such as interest rate cuts in major countries, the expansion of global protectionism, and prolonged geopolitical tensions, we focused on challenging and profitability-oriented management, achieving growth across all business sectors including logistics, shipping, and distribution."

In the fourth quarter of last year, revenue and operating profit were 7.2879 trillion KRW and 459.8 billion KRW, respectively, increasing by 11.8% and 31.1% compared to the previous year.

In the logistics business, the fourth quarter recorded revenue of 2.6222 trillion KRW and operating profit of 235.3 billion KRW. Annually, revenue was 9.914 trillion KRW and operating profit was 830.8 billion KRW. Despite a decrease in domestic finished car sales volume, overseas finished car sales increased, leading to higher inland transportation revenue locally. Additionally, stronger container market conditions compared to the previous year boosted parts export and import sales, driving performance.

The shipping business continued its upward trend for the fourth consecutive quarter, supported by freight rate adjustments on some finished car sea transport routes and expansion of non-affiliated customers. Annual results recorded revenue of 5.1209 trillion KRW and operating profit of 366.1 billion KRW.

In the distribution sector, revenue reached 13.3725 trillion KRW and operating profit 556 billion KRW, driven by increased volume for major overseas factories and exchange rate effects.

Hyundai Glovis exceeded its guidance across all businesses. At the beginning of last year, Hyundai Glovis set its guidance at revenue of 26 to 27 trillion KRW and operating profit of 1.6 to 1.7 trillion KRW.

For this year, Hyundai Glovis announced guidance of "revenue between 28 and 29 trillion KRW, and operating profit between 1.8 and 1.9 trillion KRW." The year-end dividend was decided at 3,700 KRW per share, up 17.5% from the previous year. The dividend record date is March 31.

Hyundai Glovis is determined to make this year a foundation for growth through asset expansion, co-growth with group affiliates, and expansion of non-affiliated customers, proceeding with business boldly. A Hyundai Glovis official said, "While focusing on securing profitability, we will actively implement an improved shareholder return policy to achieve steady corporate value growth."