HMM Q2 OP more than doubles on year to $2.2 billion

[Source: HMM Co.]

HMM, South Korea’s flagship ocean carrier, recorded 2.9 trillion won ($2.2 billion) in operating income and 5.03 trillion won in sales for Q2 ended June, 2022, up 111% and 73%, respectively, from a year ago. Against Q1, operating income reduced by 200 billion won due to the rise in fuel cost from the higher oil price. Its H1 operating income came to 6.1 trillion won and revenue 4.6 trillion won, up 153% and 87%, respectively, on year. Both are record highs. Debt ratio stood at 46% as of June 30, down sharply from 73% at end-2021. Kospi-listed HMM shares rose 1.2% to 25,250 won on Thursday morning.

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