Hanwha Ocean Reports 350 Billion KRW Net Loss in H1... "Striving for Profitability Within the Year"

Hanwha Ocean announced on the 14th that it recorded a net loss of 357.6 billion KRW in the first half of the year.

During the same period, sales increased by 34% year-on-year to 3.2605 trillion KRW, and operating loss was 221.8 billion KRW. The company explained that both operating loss and net loss have been significantly reduced, and performance is gradually improving.

It further stated that the deficit continued due to an increase in planned costs such as processing and outsourcing expenses caused by a rise in external block production volume to meet the production schedule, as well as one-time costs arising from the reorganization of the personnel system.

As of the end of the half-year, Hanwha Ocean’s consolidated total assets amounted to 13.6 trillion KRW, total liabilities were 11.3 trillion KRW, and total equity was 2.3 trillion KRW. The debt ratio was approximately 485%, significantly down from 1,542% at the end of 2022, showing continuous improvement in the financial situation.

A Hanwha Ocean official stated, "We are continuously striving to return to profitability within the year," and added, "Based on the greatly improved financial soundness, we plan to maintain stable business operations going forward."

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