Hanwha Ocean Reports Q2 2025 Sales of 3.2941 Trillion KRW and Operating Profit of 371.7 Billion KRW

Increase in Working Days and Higher LNG Carrier Share...
Sales Up 30% Year-on-Year
Lower Proportion of Low-Priced Container Ships, Higher-Profit LNG Carriers Expand...
Turn to Profit Compared to the Same Period Last Year

Hanwha Ocean (CEO Kim Heecheol) announced its performance for the second quarter of 2025, reporting sales of 3.2941 trillion KRW and an operating profit of 371.7 billion KRW.

The cumulative sales for the first half of 2025 reached 6.4372 trillion KRW, with an operating profit of 630.3 billion KRW.

Second-quarter sales increased by 5% compared to the previous quarter and by 30% compared to the same period last year. The increase in sales was due to a rise in the number of working days caused by seasonal factors, as well as a higher proportion of sales from LNG carriers, which have high profitability.

The proportion of sales recognized from low-priced container ship orders decreased, while the share of high-profit LNG carrier sales expanded. As a result, operating profit turned positive compared to the same period last year.

The Merchant Ship Division continued to see increases in both sales and profit, driven by the higher proportion of LNG carrier sales.

The Special Ship Division saw a slight decrease in sales compared to the previous quarter as the construction of the Jangbogo-III Batch-II lead ship entered its final stage. However, stable production of submarines, surface ships, and MRO projects for the US Navy continued, maintaining a solid profit margin.

The Offshore Business Division recorded a slight increase in sales compared to the previous quarter as the drillship performance improvement project neared completion.

A Hanwha Ocean representative stated, "Hanwha Ocean is achieving continuous productivity improvements through production stabilization, and is pursuing maximization of profitability by simultaneously carrying out cost reduction activities."

Hanwha Ocean Geoje Plant.

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