Samsung Heavy Industries Co., Ltd., a public shipbuilding and offshore engineering company, announced on 24 July that it recorded KRW 2.683 trillion in sales and KRW 204.8 billion in operating profit in the second quarter of this year.
Sales rose 6 % year‑on‑year and operating profit increased 56.7 % compared with the same period last year.
Net profit climbed 187 % to KRW 212.4 billion.
This marked the first time in 11 years that quarterly operating profit exceeded KRW 200 billion. The company explained: "Operating profit has increased thanks to the effect of reducing fixed costs due to increased sales and the increase in the proportion of high‑profit first‑class sales."
Samsung Heavy Industries Co., Ltd. Samsung Heavy Industries Co., Ltd. is a publicly listed South Korean engineering and shipbuilding corporation, headquartered in Seongnam and Geoje. Established in August 1974, it is a core affiliate of Samsung Group. SHI specialises in constructing high-value‑added and special‑purpose marine and offshore vessels, including LNG carriers, drillships, FPSOs and FLNG units, with major shipyards in Geoje and block fabrication sites in China.