Hanwha Ocean Co., a shipbuilding unit of Hanwha Group, reported a net profit of 148.5 billion won (approximately US $106.7 million) in the second quarter of 2025, reversing a net loss of 27.4 billion won (US $19.7 million) in the same quarter a year earlier.
In the same period the company recorded an operating profit of 371.7 billion won (US $267 million), compared with an operating loss of 9.7 billion won (US $7 million) in Q2 2024.
Sales for the quarter rose 29.9 % to 3.29 trillion won (US $2.36 billion) from 2.54 trillion won (US $1.83 billion).
“An increased ratio of value‑added liquefied natural gas (LNG) carriers was reflected in the quarterly results. Additional working days also contributed to improved performance year‑on‑year,” a company spokesperson said.
The company added that it is “focused on enhancing productivity through a stable production system and improving profitability via company‑wide cost‑cutting initiatives.”
In the first half of 2025, Hanwha Ocean’s net income rose to 364.2 billion won (US $261.8 million) from 23.6 billion won (US $17 million) in the first half of 2024, while operating profit increased to 630.3 billion won (US $453 million) from 43.4 billion won (US $31.2 million), and sales rose 33.6 % to 6.43 trillion won (US $4.62 billion) from 4.81 trillion won (US $3.45 billion).
Hanwha Ocean Co., Ltd. is an incorporated shipbuilding and offshore engineering company under the Hanwha Group conglomerate. As a legal entity, it specialises in constructing and servicing commercial and specialty vessels including LNG carriers, tankers, naval support ships and renewable energy platforms. It operates major shipyards, including the Geoje facility, and collaborates with affiliates within Hanwha Group in defence, energy and chemical sectors.