Hyundai Green Food (453340) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2024, was ₩1,703.5 billion, down from ₩1,827.0 billion year-over-year.

• Operating income rose to ₩102.0 billion from ₩66.8 billion year-over-year.

• Net income attributable to controlling interests increased to ₩76.7 billion from ₩51.3 billion year-over-year.

• The company maintained a diversified business across food service, distribution, food materials, and other segments.

Financial highlights

• Gross profit margin improved as operating income increased despite lower sales.

• EPS for the period was ₩2,266, up from ₩1,159 year-over-year.

• Cash and cash equivalents at period-end were ₩79.3 billion, up from ₩36.0 billion at the previous year-end.

• Total assets grew to ₩933.2 billion from ₩880.3 billion at the previous year-end.

• Dividend payout for the period was ₩325 per share, with a payout ratio of 28.01%.

Outlook and guidance

• The company aims to focus on cost reduction, operational efficiency, and new business expansion in response to ongoing inflation and global economic uncertainty.

• Continued investment in smart food centers and B2C health food products is planned to drive future growth.