On July 24, Samsung Heavy Industries announced its second-quarter results. During the statistical period, Samsung Heavy Industries achieved operating revenue of 2.683 trillion won (approximately US$1.947 billion), a year-on-year increase of 6%; and achieved operating profit of 20.48 billion won (approximately US$149 million), a year-on-year increase of 56.7%.
Samsung Heavy Industries attributes this performance result mainly to the fixed cost reduction effect brought about by the increase in operating revenue, as well as the “product structure optimization” effect of the increased proportion of high value-added ship revenue.
As of June 30, 2025, Samsung Heavy Industries achieved operating revenue of 5.1773 trillion won (approximately US$37.58 billion) and operating profit of 327.9 billion won (approximately US$238 million), representing year-on-year increases of 6.1% and 57.2%, respectively.
As of July 7, Samsung Heavy Industries has received orders for 19 new ships worth US$3.3 billion, achieving 34% of its annual order target of US$9.8 billion. Among them, the merchant ship department received orders worth US$2.6 billion, achieving 45% of its target, and the offshore engineering department received orders worth US$700 million, achieving 17% of its target.
Regarding orders for the second half of the year, Samsung Heavy Industries stated, “The commercial ship division expects medium- to long-term demand for gas carriers such as liquefied natural gas (LNG) carriers and large ethane carriers to remain strong. We also expect to see increased demand for environmentally friendly upgrades for container ships of 12,000 TEU or more, as well as an increase in new orders for oil tankers, given the high proportion of older oil tankers in the fleet.”
In the offshore engineering sector, Samsung Heavy Industries recently signed a preliminary contract worth US$637 million with an African shipowner for a floating liquefied natural gas (FLNG) facility and is about to sign a formal contract. Samsung Heavy Industries plans to focus on FLNG projects that are likely to be ordered within the year, while actively participating in front-end engineering design (FEED) contracts for new FLNG projects to continue building up its FLNG order backlog.
A Samsung Heavy Industries official said, “Achieving operating profit of 200 billion won on a quarterly basis is the first time in 11 years since the second quarter of 2014. We expect to smoothly achieve the targets of 10.5 trillion won (approximately US$7.621 billion) in operating revenue and 630 billion won (approximately US$456 million) in operating profit set at the beginning of the year.”