Samsung Heavy Industries books $187 million shipbuilding order from Europe

Samsung Heavy Industries said Monday it secured a 268 billion won ($187 million) contract to build ships for a client in Europe. The shipbuilder signed the deal on July 31.

Construction is scheduled to begin immediately, with the final delivery of the vessels set for August 31, 2029. The company noted that the completion date could shift depending on progress at the yard.

The agreement represents 2.5 percent of the company's annual revenue, which totaled 10.7 trillion won ($7.45 billion) in 2025.

In the second quarter ended June 30, Samsung Heavy Industries reported consolidated revenue of 3.23 trillion won ($2.26 billion), an operating profit of 325 billion won ($227 million) and net income of 223 billion won ($156 million).

As of the end of March, the company held a total order backlog of 29.5 trillion won ($20.6 billion). The shipbuilding and offshore segment made up the vast majority of this figure at 29 trillion won, with the civil engineering and construction segment holding 487 billion won.