Seoul: Hyundai Glovis Co., the logistics unit of Hyundai Motor Group, announced that its fourth-quarter net profit more than quadrupled from the previous year, a result attributed to a weak won and significant equity gains.
According to Yonhap News Agency, the net profit for the three months ending in December surged to 440.4 billion won (US$308.2 million), a substantial increase from 96.58 billion won in the same period of 2024. A company spokesperson explained that the favorable exchange rate of the won against the dollar and increased equity gains from Hyundai Engineering were the primary contributors to the improved quarterly financial performance.
Data from the Bank of Korea indicated that the dollar averaged 1,450.98 won in the fourth quarter, compared to 1,396.84 won a year earlier. The quarterly net result exceeded market expectations, with analysts' average estimate for net profit standing at 398.5 billion won, as per a survey by Yonhap Infomax, the financial data service of Yonhap News Agency.
The company's operating profit also saw an increase of 10.6 percent, reaching 508.3 billion won from 459.7 billion won during the same period. Sales experienced a growth of 2.5 percent, rising to 7.47 trillion won from 7.28 trillion won.
For the entirety of 2025, Hyundai Glovis reported a 57.8 percent surge in net profit, amounting to 1.73 trillion won from the previous year's 1.09 trillion won. The spokesperson highlighted efforts to expand the customer base beyond Hyundai Motor Group affiliates, which contributed to the annual financial results.
Hyundai Glovis generates approximately 70 percent of its total sales from transactions with Hyundai Motor Group affiliates, such as Hyundai Motor Co. and Kia Corp. The operating profit for the year increased by 18.3 percent to 2.07 trillion won from 1.75 trillion won, while sales rose by 4.1 percent to 29.56 trillion won from 28.4 trillion won.
Looking ahead to 2026, the company has set a target operating profit of 2.1 trillion won on projected sales of at least 31 trillion won.