Revenue increased 8.2% to 7.8127 trillion won, and the operating margin was 6.7%.
By business, the logistics segment posted revenue of 2.4902 trillion won and operating profit of 164.0 billion won. Revenue rose 1.3% as domestic shipments of electric vehicles and large models increased, but operating profit fell 17.3% as weaker container freight rates weighed on global logistics growth.
In shipping, revenue climbed 15.5% to 1.4522 trillion won and operating profit jumped 40.5% to 192.6 billion won. The company cited an increase in high-freight, non-affiliate volumes, including from Chinese local automakers, and continued cost improvements from more efficient fleet operations.
The company said concerns tied to Middle East risks, including potential volume declines and one-off costs from a strait closure, were tempered by growth in non-affiliate volumes such as Chinese vehicle export shipments. Hyundai Glovis said it expects worries over car-carrier volumes from Middle East risks to remain limited given the trend in China-led export growth.
In distribution, revenue rose 10.3% to 3.8703 trillion won, while operating profit slipped 1.0% to 164.9 billion won. The company attributed growth to expanded supply volumes of completely knocked down, or CKD, kits to technical-support assembly plants in emerging markets.
A Hyundai Glovis official said uncertainty in the global trade environment persisted in the first quarter, but stable operations helped the company post results that exceeded market concerns across all business segments.
* This article has been translated by AI.
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