Hyundai Glovis Reports Q2 Revenue of 8.71 Trillion Won and Operating Profit of 495 Billion Won (Comprehensive)

Record-High Quarterly Revenue Despite Middle East-Driven Volatility
Operating Profit Temporarily Down Due to High Oil Prices
"Recovery Expected in the Second Half"

Hyundai Glovis recorded its highest-ever quarterly revenue in the second quarter. However, operating profit declined due to geopolitical risks in the Middle East and other factors.

Hyundai Glovis announced on the 23rd that its revenue for the second quarter reached 8.7054 trillion won. This represents an increase of 15.8% compared to the same period last year and marks the company’s all-time highest quarterly figure. Operating profit was 495 billion won, which is an 8.1% decrease from the previous year. The operating margin stood at 5.7%.

Hyundai Glovis

Despite heightened global geopolitical tensions, including factors in the Middle East, the company was able to achieve strong performance thanks to its stable global supply chain management capabilities.

By business segment, the logistics division posted second-quarter revenue of 2.8558 trillion won and operating profit of 191.8 billion won. Revenue rose by 10.3% compared to the same period last year, driven by increased non-affiliate sales and higher inland transportation volume in North America. Operating profit declined by 5.9% due to lower contract freight rates resulting from trends in the container shipping market.

The shipping business recorded revenue of 1.6441 trillion won and operating profit of 130.9 billion won. Revenue grew by 20.9% year-on-year, while operating profit dropped by 34.6%.

Revenue increased as non-affiliate volume, such as orders from Chinese OEM automakers, expanded. However, profitability faced limitations due to higher oil prices stemming from geopolitical risks in the Middle East. The temporary decline in operating profit is expected to recover gradually in the second half of the year as freight rate adjustments are implemented.

A Hyundai Glovis representative explained, "The decline in operating profit is not due to a change in business competitiveness, but rather the timing of cost recognition. Finished vehicle marine transport volume remains robust."

In the distribution sector, the company reported revenue of 4.2055 trillion won and operating profit of 172.3 billion won. These figures represent increases of 17.9% and 27.8%, respectively, compared to the previous year. Strong results were driven by the full-scale start of CKD (Completely Knocked Down) exports to assembly plants in developing countries and growth in trading operations due to increased non-ferrous metals volume.

Hyundai Glovis’s combined revenue for the first half of 2026 totaled 16.5181 trillion won, with operating profit at 1.0165 trillion won. The company’s earnings guidance for 2026 projects at least 31 trillion won in revenue and at least 2.1 trillion won in operating profit.

A Hyundai Glovis representative stated, "Despite ongoing volatility in external factors, we achieved record quarterly revenue by expanding our customer base and enhancing execution in our core businesses. While profitability temporarily slowed due to short-term oil price increases, we expect to recover in the second half of the year and will further strengthen our business competitiveness based on strong fundamentals."

This content was produced with the assistance of AI translation services.