Hyundai Glovis (086280) Q4 2024 earnings summary

Executive summary

• Consolidated revenue for 2024 reached W28.41 trillion, up 10.6% year-over-year, with growth across logistics, distribution, and shipping segments.

• Net profit attributable to owners was W1.09 trillion, a 3.1% increase from 2023.

• The Group maintained strong internal controls and received unmodified audit opinions on both financial statements and internal control effectiveness.

Financial highlights

• Operating profit rose to W1.75 trillion, up 12.8% year-over-year.

• Gross profit increased to W2.45 trillion, with a gross margin of 8.6%.

• Total assets grew to W16.85 trillion, and equity reached W8.81 trillion.

• Cash and cash equivalents increased to W3.28 trillion.

• Basic EPS was W14,585, reflecting the bonus share issue in July 2024.

Outlook and guidance

• The Group expects continued revenue growth, with performance obligations for contract liabilities to be satisfied within a year.

• No material impact from new or amended accounting standards; global minimum tax rules not expected to affect current tax expense.