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Hanwha Ocean posted a Q2 net profit of 148.5 billion won, reversing a loss from last year.
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Higher LNG carrier orders and more working days boosted performance.
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Operating profit surged to 371.7 billion won, with sales up nearly 30% to 3.29 trillion won.
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First-half net income jumped to 364.2 billion won, driven by strong shipbuilding demand.
Hanwha Ocean Co., a leading South Korean shipbuilder, reported a strong turnaround in its second-quarter results, supported by an increase in working days and a higher proportion of high-value ship orders. For the quarter ending in June, the company posted a net profit of 148.5 billion won (US$106.7 million), reversing a net loss of 27.4 billion won from the same period last year. The improved performance was primarily attributed to a greater share of value-added liquefied natural gas (LNG) carriers and enhanced productivity.
Operating profit reached 371.7 billion won, up from an operating loss of 9.7 billion won a year earlier, while sales rose 29.9% to 3.29 trillion won. In the first half of the year, net income surged to 364.2 billion won, with operating profit climbing to 630.3 billion won and sales increasing 33.6% to 6.43 trillion won. Hanwha Ocean is part of Hanwha Group, a major conglomerate with interests in chemicals, energy, and defense, according to Yonhap News Agency.
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Source: Yonhap News Agency
