HMM reported revenue of KRW 3,552 billion (US$2.5 billion), with a net profit of KRW 1,739 billion (US$1.25 billion) and an operating profit of KRW 1,461 billion (US$1 billion) for the third quarter of the year.
Additionally, for the cumulative period of the first nine months of 2024, revenue reached KRW 8,545 billion (US$6.1 billion), net profit was KRW 2,884 billion (US$2 billion) and operating profit reached KRW 2,513 billion (US$1.8 billion).
The Q3 operating margin is 41.1%, and HMM described it as “the most advanced level among global carriers”.
“Profit growth and enhanced competitiveness were achieved through launching and operating new service routes and a strengthened focus on profitability-driven sales,” commented an HMM official.
The container division’s market outlook for the fourth quarter is weak due to the off-peak season, although US port strikes may cause supply uncertainty, noted the company.
