Samsung Heavy Industries reported that its operating profit for the second quarter of this year was provisionally estimated at 204.8 billion won, an increase of 56.7% compared to the same period last year, in a public announcement on the 24th.
During the same period, sales revenue was reported at 2.683 trillion won, reflecting a 6% increase, while net income for the period was provisionally estimated at 212.4 billion won, a 187% increase.
For the first half of this year, operating profit increased by 57.2% to 327.9 billion won, and sales revenue was reported at 5.1773 trillion won, up 6.1%. Net income also saw a 269.8% increase, totaling 3.0025 trillion won during the same period.
Samsung Heavy Industries explained that the increase in sales revenue was largely influenced by an increase in the number of working days, and the rise in operating profit was attributed to a reduction in fixed costs due to expanded sales and an increase in the proportion of high-margin product sales.
As of today, Samsung Heavy Industries has secured 34% (3.3 billion dollars) of its annual order target of 9.8 billion dollars. The merchant vessel institutional sector achieved 45% (2.6 billion dollars) of its target, while the marine institutional sector reached 17% (700 million dollars).
Samsung Heavy Industries anticipates that orders in both the merchant vessel institutional sector and the marine institutional sector will flow smoothly in the second half, making it likely to meet its annual target.
A representative from Samsung Heavy Industries noted, "Achieving an operating profit of 20 billion won per quarter is the first time in 11 years since the second quarter of 2014," and added, "Achievement of the guidance revenue of 10.5 trillion won and operating profit of 630 billion won presented at the beginning of the year is expected to be smooth."