On October 28, HD Korea Shipbuilding & Offshore Engineering (KSOE)—the intermediate shipbuilding holding company under HD Hyundai—announced its financial results. For the third quarter of 2026, the company recorded an operating profit of 1.44 trillion won (approximately $6.202 billion), an increase of 37.3% year-on-year, and revenue of 8.28 trillion KRW, up 9.3% year-on-year.
For the first three quarters of this year, the company’s operating profit totaled 1.44 trillion won (approximately $1.077 billion), a 55.2% increase compared to the 3.9045 trillion won (approximately $2.921 billion) recorded during the same period last year.
HD KSOE noted that despite strong demand in the shipbuilding market and solid overall performance, its net profit for the third quarter stood at 777 billion won (approximately $581 million)—an 11.4% decline from the 876.7 billion won reported in the same period the previous year.
This performance fell short of market expectations. According to a survey by Yonhap Infomax—a financial data firm under Yonhap News Agency—analysts had projected an average net profit of 915 billion won for the company in the third quarter.
For its core shipbuilding division, HD Hyundai Heavy Industries reported third-quarter revenue of 5.75 trillion won, an increase of 30.2% year-on-year, with an operating profit of 899.2 billion won (approximately $673 million)—a 61.3% year-on-year rise. HD Hyundai Heavy Industries attributed these results to higher vessel prices and robust demand for engines and offshore facilities.
HD Hyundai Samho recorded an operating revenue of 2.37 trillion won (approximately $1.773 billion) and an operating profit of 479 billion won (approximately $358 million), representing year-on-year increases of 20.5% and 56.3%, respectively. This performance growth was driven by an increased share of liquefied natural gas (LNG) carriers within the company’s sales mix.
Bolstered by a rise in engine deliveries and strong sales growth for dual-fuel engines, HD Hyundai Marine Engine saw its third-quarter operating revenue reach 211.4 billion won (approximately $158 million)—a 93.8% surge year-on-year—while its operating profit climbed to 60.3 billion won (approximately $45 million), a 197% year-on-year jump.