[Infostock Daily= Reporter Park Sang-In] Hanjin(002320), a general logistics company, showed improved performance due to increased delivery volume despite the aftermath of COVID-19.
Hanjin announced on the 10th that its consolidated operating profit in the first half of this year recorded 40.3 billion won. The figure is up 30.8% from 40.3 billion won in the first half of last year. During the same period, Hanjin posted 1.63 trillion won in sales, up 8.3% from the first half of the previous year.
Hanjin's operating profit has been steadily surplus since 2017. Operating profit ratio also improved steadily from 0.49%→2.1%→4.1%→4.95% from 2017 to the first half of this year.
Hanjin's positive performance was led by the courier and logistics business. In the aftermath of COVID-19, non-face-to-face consumption surged, increasing the volume of parcels. Logistics warehouse business and container terminal loading business also maintained stable performance.
Hanjin plans to continue to invest in various ways to maintain good results this year. Hanjin is investing 285 billion won to achieve 20% share of the courier market by 2023 and is building a mega hub terminal in Daejeon. In addition, it is speeding up the introduction of new and expanded delivery terminals and automation facilities in each base area nationwide.
Incheon International Airport GDC, a complex logistics center that links aviation, forwarding, international express and domestic courier service, will also open in August to target the global e-commerce market. GDC performs unified logistics service functions and introduces the latest automation facilities. It plans to focus on import and export logistics as well as transshipment cargo based on improved operational efficiency such as cargo classification and customs clearance and optimized supply chain management(SCM) system.
Hanjin is also selling businesses, real estate, and securitized stocks that are difficult to secure competitiveness. Hanjin Rent-a-Car was sold for about 60 billion won in April and Busan Bumil-dong site for about 300 billion won in June. The sale price will be used as investment resources for intensive development of courier and logistics business such as strengthening financial soundness, establishing Daejeon mega hub logistics center, expanding courier automation facilities and expanding logistics business infrastructure.
Reporter Park Sang-In si2020@infostock.co.kr
