Samsung Heavy Industries said it has re-entered the annual sales tier above 10 trillion won for the first time in nine years, while also posting its strongest operating profit in 12 years on the back of a profitability-driven order mix and higher offshore output.
On 30 January, the company reported last year’s sales of 10.65 trillion won and operating profit of 862.2 billion won. Sales were up 7.5% from the previous year, and operating profit increased 71.5% over the same period.
The sales figure cleared 10 trillion won for the first time since 2016, when annual revenue reached 10.4142 trillion won. The company said operating profit also marked the highest level in 12 years.
A company representative said the profit structure improved as the order portfolio was reorganised toward higher-margin vessel types, alongside rising production volume tied to offshore projects.
At the Geoje Shipyard, three floating liquefied natural gas (FLNG) production facilities are currently under construction for the Malaysia JET LNG, Canada Cedar, and Mozambique Coral projects. The company added that a newbuild order contract with Delfin in the United States is imminent.
Samsung Heavy Industries expects output to increase further as global operating strategies with domestic and overseas partner shipbuilders move into full implementation, supporting additional sales improvement. For this year, the company projected sales of 12.8 trillion won—up 20% from last year—and set an order target of $13.9 billion.
The representative said cooperation with U.S. shipyards is expected to deliver tangible results this year, while the company continues a selective order strategy prioritising profitability.
