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HMM (011200) investor relations material
HMM Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for 1Q 2026 was KRW 2,719bn, down 4.8% year-over-year, with operating income at KRW 269bn, a 56.2% decline from 1Q 2025.
Net profit for the quarter was KRW 354bn, a 52.2% decrease year-over-year.
Operating margin dropped to 9.9% from 21.5% in the prior year quarter.
Financial highlights
Cost of goods sold (COGS) increased by 10.8% year-over-year, raising the COGS to sales ratio to 85.7%.
Charterage costs rose 15.9% year-over-year due to higher slot costs.
Assets grew to KRW 36,090bn, liabilities to KRW 8,309bn, and equity to KRW 27,781bn as of March 31, 2026.
Total borrowings stood at KRW 5,723bn at quarter-end.
Outlook and guidance
Container market faces ongoing uncertainty from U.S. tariff policies and U.S.-China decoupling, with demand growth varying by route.
Dry bulk market expected to remain strong but volatile due to Middle East risks; tanker market to normalize after a temporary spike.
Strategies include operational efficiency improvements, fuel surcharges, and long-term contracts for bulk.
- Revenue and profit fell sharply amid lower freight rates, rising costs, and major capital actions.011200
Q3 202524 May 2026 - Operating income fell 58.4% YoY as lower freight rates and higher costs pressured margins.011200
Q4 202524 May 2026 - H1 2025 saw lower revenue and profit, strong liquidity, and continued green investments.011200
Q2 202524 Aug 2025 - HMM's 2024 earnings fell sharply year-over-year despite robust shipping revenue and ongoing fleet investment.011200
Q3 202413 Jun 2025 - HMM delivered solid H1 2024 profits and margin gains amid volatile shipping markets.011200
Q2 202413 Jun 2025 - Strong 1Q 2025 results driven by containers, but outlook clouded by tariff and demand risks.011200
Q1 20256 Jun 2025 - Record FY2024 profit and revenue driven by container market surge and fleet growth.011200
Q4 20245 Jun 2025
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