[Click eStock] "Hyundai Glovis Q4 Operating Profit Up 18% YoY...Bright Outlook for This Year's Performance"

[Asia Economy Reporter Park Jihwan] Ebest Investment & Securities predicted on the 8th that Hyundai Glovis would record solid earnings in line with market expectations for the fourth quarter of last year. This year as well, the outlook for earnings was positive due to the expansion of the finished car ocean transport (PCC) business. Accordingly, they issued a buy rating and a target price of 220,000 KRW.

Yoo Jiwoong, a researcher at Ebest Investment & Securities, said, "Hyundai Glovis's sales for the fourth quarter of last year are expected to be 4.77 trillion KRW, up 5.7% year-on-year, and operating profit is expected to increase by 18.3% to 227.1 billion KRW." He explained, "In logistics, the operation of Kia Motors' plant in the Anantapur region of India has prominently driven external growth, and in the high-margin PCC business, the earnings growth trend compared to the same period last year is clear due to the expansion of non-affiliated volumes following the previous quarter."

He added, "Regarding non-operating income, foreign exchange translation losses due to the year-end decline in the KRW-USD exchange rate are expected to be minimized," and "therefore, net profit is expected to increase by 28.3% to 171.8 billion KRW."

The outlook for this year was also analyzed positively. Researcher Yoo explained, "In the high-margin PCC business, structural profit improvement will be achieved through external growth by securing additional non-affiliated volumes besides finished car captive volumes, and by securing backhaul routes for non-affiliated volumes."

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