The company on Wednesday reported preliminary first-quarter 2026 results of 2.9023 trillion won ($2.9 trillion won) in revenue and 273.1 billion won in operating profit, according to a regulatory filing. Revenue rose 16% from a year earlier, while operating profit surged 122%.
In shipbuilding, a higher proportion of construction for high-margin vessels such as LNG carriers, along with a strategy to diversify global production, supported results, the company said. In offshore operations, revenue also increased as work accelerated on FLNG projects including Malaysia’s ZLNG, Canada’s Cedar and Mozambique’s Coral.
On that trend, Samsung Heavy said it expects to meet its annual revenue target of 12.8 trillion won.
A company official said revenue is expected to rise further starting in the second quarter as production volumes increase. The official added the company will strengthen a stable profit structure based on an order backlog secured for more than three years.
* This article has been translated by AI.
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