Samsung Heavy Industries Q3 Operating Profit 119.9 Billion KRW... 58% Increase YoY
Samsung Heavy Industries announced on the 24th that it achieved sales of 2.3229 trillion KRW and an operating profit of 119.9 billion KRW in the third quarter.
Sales decreased by 8% compared to the previous quarter due to a reduction in working days caused by seasonal factors such as summer vacation and the Chuseok holiday, but increased by 15% compared to the third quarter of last year.
Operating profit continued its improvement trend, increasing by 58% compared to the third quarter of last year, as the company expanded the proportion of high-profit ship types such as LNG carriers and FLNG.
Samsung Heavy Industries stated that it secured 5.4 billion USD (24 vessels) in orders, achieving 56% of its annual order target of 9.7 billion USD. With ongoing negotiations for multiple projects including eco-friendly container ships, LNG carriers, and FLNG, it is expected that the annual target will be easily met.
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A Samsung Heavy Industries official said, "We are steadily progressing toward the guidance announced at the beginning of the year, with sales of 9.7 trillion KRW and operating profit of 400 billion KRW," and added, "We will continue a selective order strategy focused on high value-added ships for the remaining period."
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