While the remarkable performance of Samsung Electronics and SK Hynix, fueled by the AI supercycle, has garnered significant attention, other key industries such as shipbuilding, energy, and materials are steadily strengthening their fundamentals. Notably, companies in sectors closely related to AI and semiconductors are showing significant improvements in their performance.
According to industry reports, Hanwha Ocean recorded a revenue of 5.4432 trillion won and an operating profit of 736.1 billion won in the second quarter. This operating profit marks a 98% increase compared to the same period last year. For the first half of the year, the cumulative revenue reached 8.6531 trillion won, with an operating profit of 1.1772 trillion won. Hanwha Ocean attributed its strong performance to the conversion of order backlog into revenue and an increased share of high-profit projects. The company noted that 1.5 trillion won in revenue from marine projects was temporarily reflected, and the profitability of high-value ship types, such as LNG carriers, contributed to this growth. As of the end of June, the company’s order intake also reached $4.35 billion, expanding its foundation for future growth.
Doosan Enerbility reported an operating profit of 314.3 billion won in the second quarter, a 15.9% increase from the previous year, exceeding expectations. The Enerbility division's order intake for the first half of the year reached 7.1225 trillion won, with a backlog of 26.3509 trillion won as of the end of June, indicating a strong outlook for continued performance. Doosan Enerbility aims to achieve its annual order target of 13.3 trillion won this year.
SKC, which successfully completed a capital increase, recorded an EBITDA of 29.1 billion won in the second quarter, tripling from the previous quarter. Revenue was 645.4 billion won, and while the company continued to report an operating loss of 14.4 billion won, the loss was approximately 50% smaller than the previous quarter. The improvement in performance was driven by demand related to energy storage systems (ESS) and AI data centers. Sales of copper foil for ESS increased by 76% compared to the previous quarter, and revenue from test sockets for AI data centers rose by 66%. SKC is optimistic about its glass substrate business, which is set to receive a 600 billion won investment, and aims for its Malaysian copper foil plant to turn a profit next year.
LG Innotek also achieved a revenue of 5.5272 trillion won and an operating profit of 245.8 billion won in the second quarter, overcoming the seasonal downturn and achieving an earnings surprise. Revenue increased by 41% year-on-year, reaching an all-time high for the second quarter, while operating profit surged by 2057%. The improvement in performance was attributed to increased demand for high-value camera modules and semiconductor substrates for mobile devices. The ongoing expansion of high-value semiconductor substrates, including RF-SiP, FC-CSP, and FC-BGA, has also contributed to this growth. Additionally, increased sales of mobility components such as vehicle cameras and communication and lighting modules have bolstered results.
Industry insiders noted, "The improvement in second-quarter performance across heavy industries is a result of high exchange rates, increased facility investments due to enhanced energy security, and rising power demand driven by AI proliferation. This demand is unlikely to diminish in the short term, suggesting that the trend of improved performance is likely to continue for the foreseeable future."
* This article has been translated by AI.
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