Pan Ocean Posts 5.4329 Trillion Won in Revenue Last Year, Up 5.3% Year-on-Year

2025 Operating Profit at 491.9 Billion Won...Up 4.4%

Pan Ocean saw both its revenue and operating profit rise last year.

Pan Ocean announced in a regulatory filing that, on a consolidated basis, last year's revenue came to 5.4329 trillion won, up 5.3% year-on-year, while operating profit rose 4.4% to 491.9 billion won.

In the fourth quarter of last year, revenue was 1.4763 trillion won, down 11.9% from the same period a year earlier, while operating profit was 130.4 billion won, up 18.8% year-on-year.

Looking only at fourth-quarter results, the existing core Dry Bulk division maintained its operating profit at roughly last year's level, as volatility expanded amid global uncertainty. The Container division underperformed, with operating profit plunging 45.7% due to the impact of lower freight rates.

The Non-bulk division, which Pan Ocean has proactively expanded, helped defend overall earnings. The LNG division saw operating profit surge 160% year-on-year, driven by full-fledged profit generation following the delivery of newbuild vessels. The Tanker division also continued solid profit growth, supported by favorable market conditions, despite the impact of fleet reduction following the sale of two aged vessels.

Pan Ocean, which pays cash dividends, has set a consolidated payout ratio of 26.6% this year to enhance shareholder value, increasing the total dividend amount by 25% compared with the previous year. At today's regular board meeting, the company set last year's dividend at 150 won per share, and it is reported that this will be included in the agenda for approval of the financial statements at the regular shareholders' meeting scheduled for March 27.

Meanwhile, Pan Ocean on the same day simultaneously announced new facility investment and acquisition of property, plant and equipment. This includes the construction of two newbuild vessels to expand the Dry Bulk fleet and enhance business competitiveness through the replacement of older vessels, as well as the addition of 10 secondhand VLCCs linked to long-term cargo transportation contracts from SK Shipping to strengthen its competitiveness in the crude oil transport market. Pan Ocean stated that it is undertaking this large-scale investment not only to bolster the competitiveness of its core businesses but also to improve profitability by establishing a stable business portfolio.

A Pan Ocean official said, "As external uncertainties such as economic and geopolitical risks centered on the United States persist, we have focused on strengthening our ability to respond to the market and securing a profit base by building a stable business portfolio, and as a result we were able to achieve solid earnings in line with market expectations," adding, "Pan Ocean will continue its efforts to strengthen responsiveness to market changes and expand its business portfolio to secure market competitiveness and stable profitability, while at the same time actively practicing ESG management to establish its status as a 'sustainable company'."

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