HD Korea Shipbuilding & Offshore Engineering Reports Q1 Operating Profit of 1.356 Trillion Won, Up 57.8% Year-on-Year

Sales Up 20.2% Year-on-Year
Expansion of Eco-Friendly Vessels and Productivity Improvement

HD Korea Shipbuilding & Offshore Engineering announced on the 7th that its consolidated sales for the first quarter reached 8.1409 trillion won, with operating profit amounting to 1.356 trillion won.

HD Korea Shipbuilding & Offshore Engineering CI. HD Korea Shipbuilding & Offshore Engineering

Compared to the same period last year, sales increased by 20.2% and operating profit rose by 57.8%.

HD Korea Shipbuilding & Offshore Engineering explained that despite a reduction in working days due to seasonal factors, the company saw improved performance across all business divisions, citing an increased share of high-margin eco-friendly vessel sales, enhanced productivity, and improved profitability in the offshore sector.

The integrated HD Hyundai Heavy Industries, which merged with HD Hyundai Mipo on December 1 last year, led performance growth with sales of 5.9163 trillion won and operating profit of 905.4 billion won.

HD Hyundai Samho posted 2.1245 trillion won in sales and 395.2 billion won in operating profit, up 8% year-on-year for both figures.

HD Hyundai Marine Engine recorded sales of 133.5 billion won and operating profit of 32.6 billion won, driven by a rise in engine sales prices, increased engine delivery volumes, and higher parts sales. Compared to the same period last year, sales increased by 60.8% and operating profit by 216.5%.

HD Hyundai Energy Solutions recorded sales of 159.9 billion won, an 87.6% increase year-on-year, due to increased domestic and international module sales and higher selling prices. Operating profit turned positive, reaching 29 billion won.

By business division, the shipbuilding segment achieved sales of 6.6963 trillion won and operating profit of 1.1107 trillion won, benefiting from improved productivity and a better product mix. These figures represent year-on-year increases of 14.6% and 42.1%, respectively.

The engine and machinery division reported sales of 717 billion won and operating profit of 218.1 billion won, reflecting growing demand for dual-fuel engines due to strengthened global eco-friendly regulations and higher sales prices. Compared to last year, sales rose by 7.5% and operating profit by 41.3%.

The offshore plant division recorded sales of 457.8 billion won and operating profit of 86.6 billion won, thanks to increased profit recognition from higher project progress rates and cost reduction effects. These results mark year-on-year increases of 183.8% and 1,212.1%, respectively.

A representative from HD Korea Shipbuilding & Offshore Engineering stated, "While new orders for large tankers continue, orders for gas carriers and container ships are also ongoing. In the second half of the year, as bids for large-scale LNG projects in the United States begin in earnest, we expect demand for LNG carriers to increase further, and we will continue to focus on selective orders for high value-added vessels."

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