An aerial view of Samsung Heavy Industries' Geoje shipyard. [Samsung Heavy Industries]
An aerial view of Samsung Heavy Industries' Geoje shipyard. [Samsung Heavy Industries]

Samsung Heavy Industries posted sales of 3.23 trillion won ($2.2 billion) and operating profit of 325 billion won in the second quarter, the company announced Friday. Sales rose 20 percent and operating profit 59 percent from the same period last year.

For the first half of this year, the company recorded sales of 6.13 trillion won and operating profit of 598.1 billion won — up 19 percent and 82 percent, respectively, from a year earlier. The improvement reflects shipbuilding contracts secured over the past two years beginning to feed through to revenue and profit.

Given the upward trajectory, the company is expected to comfortably meet its full-year sales target of 12.8 trillion won set at the start of the year. A Samsung Heavy Industries official said the company would "continue improving productivity and profitability in the second half by leveraging 3X — DX, AX and RX" and would "keep working to deliver tangible results across various US projects, including floating data centers (FDC) and MRO (maintenance, repair and overhaul) services, which have been drawing significant market attention recently."

Meanwhile, Samsung Heavy Industries' new orders this year have reached $10 billion on a cumulative basis through this month. The shipbuilding segment has achieved 98 percent of its annual order target.


yeongdai@heraldcorp.com