As of the first half of 2023, sales were 0.4212 billion won and operating profit was 467 billion won.
Net profit of 610 billion won, margin of 14.5 percent
Operating income and operating profit for the second quarter of were 2.13 trillion won and 160 billion won, respectively. Net profit reached 313 billion won.
The financial structure remains robust. HMM's debt-to-equity ratio improved slightly from 26% in December 2022 to 24% in June 2023. "
1. Financial performance (consolidated)
2. Outlook and Plan
The container shipping industry has been experiencing overcapacity, mainly due to the influx of new container ships ordered during the outbreak and the normalization of supply chains in major ports and inland areas. The knock-on effect of large vessels moving from east to west on major routes to smaller routes exacerbates the supply-demand imbalance.
As a result, freight rates on most major trade routes are under downward pressure in the first half of 2023. Shanghai's Container Freight Index (SCFI) averaged 976 points in the first half of 2023, down 78% from 4504 points in the first half of 2022.
As far as trans-Pacific trade is concerned, we expect that as inventory replenishment rebounds, freight volumes will gradually recover. The U.S. economy may achieve a soft landing, and the short-term supply side will not undergo drastic changes.
HMM will continue to make service adjustments, such as the introduction of FIM (Far East, India and Mediterranean) maritime routes, cost-cutting measures and operational efficiency improvements to cope with market uncertainties.
Source: HMM official website