Daehan Shipbuilding posted an operating margin of 26.8% in the first quarter this year, maintaining a margin in the 20% range for six consecutive quarters. Sales were similar to a year earlier, but operating profit rose by double digits.
Daehan Shipbuilding said on the 29th that, on a consolidation basis, it logged first-quarter sales of 308.3 billion won and operating profit of 82.6 billion won. Compared with a year earlier, sales rose 0.2% and operating profit increased 18.5%.
The first-quarter operating margin is close to the all-time high of 27.2% recorded in the fourth quarter of last year. Daehan Shipbuilding has maintained an operating margin in the 20% range for six consecutive quarters from the fourth quarter of 2024 to the first quarter of this year. First-quarter net profit was 77.4 billion won, up 27.8% from a year earlier.
The expansion of high value-added ship orders and the effect of selective bidding are seen to have led to improved profitability. Daehan Shipbuilding has booked 13 orders so far this year, exceeding its annual order target ahead of schedule. With more than three years of backlog secured, the company plans to focus on selective orders centered on high value-added ship types.
A Daehan Shipbuilding official said, "In our first year of listing, we returned 20% of net profit to shareholders by combining cash dividends with the acquisition and cancellation of treasury shares," and added, "With results clearly improving, we will actively review ways to share the fruits of growth with shareholders, taking into comprehensive account the business environment."