The following release was published by HMM:
- The revenue for Q3 KRW 3,552 billion, with a net profit of KRW 1,739 billion and an operating profit of KRW 1,461 billion.
- For the cumulative period from Q1 to Q3, revenue reached KRW 8,545 billion, net profit of 2,884 billion, and operating profit of KRW 2,513 billion.
- The Q3 operating margin is 41.1%, as the most advanced level among global carriers.
- The Shanghai Containerized Freight Index(SCFI) increased from 986 points in Q3 2023 to 3,082 points in Q3 2024, more than tripling over the year.
- Profit growth and enhanced competitiveness were achieved through launching and operating new service routes and a strengthened focus on profitability-driven sales.
- Outlook & Plans
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(Container Division) Q4 market outlook is weak due to the off-peak season, although U.S. port strikes may cause supply uncertainty. Starting in February 2025, the ‘Premier Alliance + MSC’ partnership will optimize our transport network and boost revenue.
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(Bulk Division)Despite the winter peak, demand uncertainty and economic risks remain. HMM is focused on maximizing profitability through long-term contract extensions and new agreements.
Source: HMM