HD Korea Shipbuilding posts 37.3 percent jump in third-quarter operating profit

HD Korea Shipbuilding & Offshore Engineering said Wednesday its third-quarter operating profit rose 37.3 percent from a year earlier to 1.45 trillion won ($1.09 billion), as higher ship prices and productivity gains outweighed fewer working days and currency swings.

Revenue for the quarter reached 8.29 trillion won ($6.27 billion), up 9.3 percent from 7.58 trillion won in the same period of 2025, the company said in a regulatory filing.

"Despite the impact of fewer working days due to seasonal factors and exchange-rate fluctuations, revenue and operating profit rose 9.3 percent and 37.3 percent on-year, respectively, on higher productivity, increased sales from rising ship prices and solid performance in the engine machinery and offshore plant sectors," the company said.

Shipbuilding, the construction of LNG carriers, container ships and crude oil tankers, accounts for 82.9 percent of consolidated revenue, alongside offshore plants at 4.9 percent, marine engine machinery at 8.7 percent and green energy at 1.9 percent.

HD Hyundai Heavy Industries reported third-quarter revenue of 5.75 trillion won ($4.35 billion) and operating profit of 899 billion won ($680 million), up 30.2 percent and 61.3 percent from a year earlier. HD Hyundai Samho posted revenue of 2.37 trillion won ($1.79 billion) and operating profit of 479 billion won ($362 million), gains of 20.5 percent and 56.3 percent, helped by a growing share of liquefied natural gas carrier sales. HD Hyundai Marine Engine also lifted both revenue and operating profit by about 93 percent on-year, driven by an increase in the number of engines delivered and a larger share of dual-fuel engine sales.

The company said the strong performance across its major businesses would support a steady earnings trend, with selective order-taking underpinning results.

"We will continue a solid earnings flow through selective orders on the back of strong performance in our major businesses," the company said.