HMM profit soars in Q3 amid strong market dynamics
HMM has presented its third quarter results, where 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.
HMM
Profit growth and enhanced competitiveness were achieved through launching and operating new service routes and a strengthened focus on profitability-driven sales.
1. Financial Results (Consolidated)
2. Outlook & Plans
• (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.
• (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.
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