HD Korea Shipbuilding announced on July 29 that it recorded consolidated sales of 8.927 trillion won and an operating profit of 1.6451 trillion won for the second quarter.
Sales and operating profit increased by 20.2% and 72.5%, respectively, compared to the same period last year, driven by improved productivity, a higher proportion of high-priced ship sales, and enhanced profitability from selective orders.
Its shipbuilding subsidiary, HD Hyundai Heavy Industries, reported sales of 6.3322 trillion won and an operating profit of 1.0399 trillion won, marking increases of 52.7% and 120.6%, respectively, year-on-year, as synergies from integration began to take effect. HD Hyundai Samho also saw its sales and operating profit rise by 11.9% and 43.7%, reaching 2.3714 trillion won and 534.1 billion won, respectively.
In the ship engine sector, HD Hyundai Marine Engines recorded sales of 128.1 billion won and an operating profit of 31.3 billion won, with both figures up 29.1% and 79.2% compared to the previous year.
HD Hyundai Energy Solutions, a solar energy solutions provider, achieved sales of 165 billion won and an operating profit of 36.1 billion won, benefiting from increased overseas sales and price hikes, representing year-on-year increases of 23.4% and 139.8%.
By business segment, the shipbuilding sector saw sales and operating profit rise by 19.1% and 73.6%, respectively, to 7.451 trillion won and 1.3986 trillion won, thanks to improved productivity and a higher proportion of high-priced ship sales.
The engine machinery sector reported a slight decline in sales to 760.2 billion won, down 1.8% from the previous year, but operating profit increased by 33.6% to 268.6 billion won, driven by strong sales of eco-friendly engines.
The offshore plant sector recorded sales of 377.1 billion won and an operating profit of 60.1 billion won, with both figures up 52.1% and 60.3% year-on-year as major project processes ramped up.
An official from HD Korea Shipbuilding stated, "The trend of improved performance continues due to efforts to enhance productivity and the expansion of high-priced ship sales. As orders for various types of vessels, including LNG carriers, container ships, and tankers, continue, we plan to maintain a selective order strategy focused on profitability."
Additionally, HD Korea Shipbuilding announced on July 24 that it signed a main contract with global engineering firm Siemens Digital Industries Software to introduce a next-generation marine platform.
* This article has been translated by AI.
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