▶The revenue increased 12% to KRW 2,330 billion in Q1 2024 from KRW 2,082 billion in Q1 2023.
▶The net profit climbed 63% to KRW 485 billion in Q1 2024 from KRW 298 billion in Q1 2023.
▶The operating profit rose 33% to KRW 407 billion in Q1 2024 from KRW 306 billion in Q1 2023.
▶The Shanghai Containerized Freight Index(SCFI) in Q1 2024 was 2,010 points, more than doubled from 969 points in Q1 2023, increasing revenue and profits.

▶Despite market uncertainties, the combined operating margin reached 17.5%, marking a surplus for the last 16 consecutive quarters.

1. Financial Results (Consolidated)

2. Comments

-    The main economic indicators are favorable due to consistent consumer demand, including the recovery of the U.S. economy, growth in online business from China, and the easing of inflation.

-    HMM makes great efforts to strengthen its business capability by reinforcing its environmental competitiveness and establishing digitalization. In addition, HMM intends to prepare for rapidly shifting market conditions through cost-cutting and lucrative operations.