Hyundai Green Food (453340) Q4 2024 earnings summary

Executive summary

• Achieved record annual revenue and operating income in 2024, driven by strong core catering business performance, despite one-off costs in Q4.

• Q4 results fell short of consensus due to additional retirement and leave provisions following a Supreme Court ruling on wage calculation.

Financial highlights

• Standalone revenue rose 4.0% year-over-year to 2,207.5 billion KRW; operating income up 7.8% to 88.6 billion KRW.

• Q4 standalone revenue increased 2.5% year-over-year; operating income fell 33.2% due to one-time costs.

• Consolidated annual revenue up 3.8% to 2,270.4 billion KRW; net income up 35.4% to 74.5 billion KRW.

• Q4 consolidated net loss narrowed to -4.0 billion KRW from -12.9 billion KRW year-over-year.

Outlook and guidance

• Focus remains on profitability improvement and maintaining high operating margins across business segments.

• Enhanced shareholder return policy announced, including higher dividends and share buybacks through 2028.