Samsung Heavy Industries recorded a double-digit operating profit margin in the third quarter of this year, driven by increased sales of high-value ships.
On October 29, Samsung Heavy Industries announced its preliminary results for the third quarter of 2026, reporting sales of 31.504 trillion won and an operating profit of 3.384 trillion won.
Sales increased by 20% compared to the same period last year, while operating profit rose by 42%. Pre-tax profit surged to 6.107 trillion won, reflecting non-operating income of 2.723 trillion won from forward exchange settlements.
Despite a seasonal decline in working days due to summer vacations and the Chuseok holiday, the company maintained a solid operating profit margin of 10.7%. This is attributed to the significant impact of high-value ship sales.
From January to September, cumulative sales reached 93 trillion won, with operating profit totaling 9.365 trillion won. The trend of improving performance is expected to continue, making it likely that the annual sales guidance of 128 trillion won will be met.
To date, Samsung Heavy Industries has secured orders for 20 LNG carriers and two FLNG units, totaling $12.4 billion, achieving 89% of its annual order target of $13.9 billion. The company aims to secure large offshore projects, including the Delfin FLNG 2 in the U.S. and the Western FLNG in Canada, by the end of the year.
Despite external uncertainties such as geopolitical instability in the Middle East, Samsung Heavy Industries anticipates steady long-term orders due to increasing LNG traffic and demand for eco-friendly ship replacements. The company projects that new FLNG projects will continue in Africa, Latin America, and North America after 2027, driven by diversification of LNG supply sources.
A representative from Samsung Heavy Industries stated, "We have maintained a trend of improving performance each quarter this year, and we will further solidify our foundation for qualitative growth centered on high-value products with unique technological competitiveness, such as LNG carriers and FLNG units."
* This article has been translated by AI.
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