Hyundai Merchant Marine (HMM) reported KRW 3,552 billion ($2.54 million) in sales for the third quarter, with a net profit of KRW 1,739 billion ($1.24 million) and an operating profit of KRW 1,461 billion ($1.04 million).
Between Q1 and Q3, revenue was KRW 8,545 billion ($6.09 million), with a net profit of KRW 2,884 billion ($2.05 million) and an operating profit of KRW 2,513 billion ($1.79 million).
The Q3 operating margin is 41.1 per cent, the highest level among global carriers.
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The Shanghai Containerized Freight Index (SCFI) rose from 986 points in Q3 2023 to 3,082 points in Q3 2024, more than doubling over the year.
The company credited its profit growth and enhanced competitiveness to new service routes and a greater emphasis on profit-driven sales.
In September, HMM developed a mid-to-long-term plan to extend its business portfolio for future growth.
