Samsung Heavy Industries Q3 Operating Loss of 167.9 Billion KRW... Recovers 87.9 Billion KRW Loss from Previous Quarter

Samsung Heavy Industries Q3 Operating Performance. Data provided by Samsung Heavy Industries

[Asia Economy Reporter Donghoon Jeong] Samsung Heavy Industries announced on the 28th that it recorded sales of 1.4001 trillion KRW and an operating loss of 167.9 billion KRW for the third quarter of this year.

According to the company, third-quarter sales decreased by about 2% compared to 1.4262 trillion KRW in the previous quarter due to a reduction in operating days caused by summer vacation and Chuseok holidays.

Samsung Heavy Industries stated, "Despite the decrease in operating days, we initially planned to increase sales in the second half compared to the first half, but considering the recent difficulties faced by external subcontractors in securing manpower, we proactively adjusted the production schedules of some projects."

The third-quarter operating loss improved by 87.9 billion KRW from the previous quarter's loss of 255.8 billion KRW, resulting in a loss of 167.9 billion KRW. The operating loss included fixed cost burdens of 87.9 billion KRW and one-time expenses of about 80 billion KRW related to wage negotiation settlements and retroactive wage increases.

A Samsung Heavy Industries official emphasized, "With additional orders worth about 3 billion USD (approximately 4.2645 trillion KRW) for LNG (liquefied natural gas) carriers and offshore plants expected for the remainder of this year, it is anticipated that the order target will be exceeded for the second consecutive year," adding, "Starting next year, performance improvement will become more apparent as supply focuses mainly on LNG carriers."

This content was produced with the assistance of AI translation services.