Hyundai Glovis (086280) Q2 2026 earnings summary

Executive summary

• Sales reached KRW 8,705.4 bn in 2Q26, up 15.8% year-over-year and 11.4% quarter-over-quarter.

• Net profit declined 26.7% year-over-year to KRW 369.2 bn, but rose 8.3% sequentially.

• Operating profit fell 8.1% year-over-year and 5.1% quarter-over-quarter to KRW 495.0 bn.

Financial highlights

• Gross profit decreased 5.7% year-over-year and 3.4% quarter-over-quarter to KRW 662.6 bn.

• EBITDA was KRW 717.7 bn, down 1.3% year-over-year and 2.4% quarter-over-quarter.

• Operating profit margin dropped to 5.7% from 7.2% a year ago.

• Pre-tax profit declined 16.3% year-over-year but increased 11.1% quarter-over-quarter.

Outlook and guidance

• Finished car industry expected to benefit from seasonal demand and new hybrid/EV launches.

• International logistics earnings seen improving due to strong container market.

• PCTC segment faces uncertain oil prices due to Middle East tensions.

• Bulk shipping to focus on profit-oriented spot sales and stable long-term contracts.

• Distribution outlook mixed, with persistent soft used-car demand and non-ferrous price volatility.