Hyundai Home Shopping Reports Operating Profit of 128.4 Billion KRW Last Year, Down 25.5% YoY

[Asia Economy Reporter Jeon Jinyoung] Hyundai Home Shopping announced on the 8th that its operating profit for last year, on a consolidated basis, was tentatively estimated at 128.5 billion KRW, a 25.5% decrease compared to the previous year.

Sales revenue increased by 3.7% year-on-year to 2.2049 trillion KRW. Net profit decreased by 9.8% to 101.7 billion KRW. The consolidated results include Hyundai Home Shopping, Hyundai L&C, and Hyundai Rental Care.

Operating profit for the fourth quarter was 20.6 billion KRW, down 57% from the same period last year. Sales and net loss for the same quarter were 569.2 billion KRW and 43.2 billion KRW, respectively.

Hyundai Home Shopping's separate net sales were 1.0804 trillion KRW, a 0.4% decrease compared to the previous year, and operating profit decreased by 14% to 133.9 billion KRW.

A Hyundai Home Shopping official stated, "Sales slightly decreased due to the base effect from the previous year's strong performance, and operating profit declined due to increased transmission fees and selling and administrative expenses."

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