How did Hanwha Ocean’s third-quarter net profit, operating profit and sales compare with a year earlier?

Net profit fell to 145.1 billion won from 269.4 billion won a year earlier. Operating profit rose 67.6 percent to 485.7 billion won, and sales increased 12.9 percent to 3.41 trillion won.

What drove Hanwha Ocean’s higher operating profit in the third quarter?

Hanwha Ocean said increased deliveries of high value-added commercial vessels lifted earnings. It also cited stronger revenue from naval shipbuilding, including submarines and surface vessels.

What types and numbers of vessels made up Hanwha Ocean’s orders worth $7.72 billion by the end of September?

The orders covered eight LNG carriers, six container ships, 18 very large crude carriers, three very large ammonia carriers, three very large LPG carriers and one wind turbine installation vessel.

Hanwha Ocean's Q3 net falls 46% despite strong operating earnings

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Summary

Hanwha Ocean reported Tuesday that its third-quarter net profit fell 46.1 percent year on year, while operating profit rose on increased deliveries of high value-added commercial vessels and stronger naval shipbuilding revenue. Net profit was 145.1 billion won and operating profit was 485.7 billion won for July-September. Sales increased 12.9 percent to 3.41 trillion won. By the end of September, the shipbuilder had secured orders worth a combined $7.72 billion.

Key Facts

Revenue from commercial ships reached 2.7 trillion won in the quarter.
The naval and specialized vessel segment recorded sales of 363 billion won.
Hanwha Ocean attributed stronger operating profit to deliveries of high value-added commercial vessels and revenue from naval ships, including submarines and surface vessels.
The company’s orders included eight LNG carriers, six container ships, 18 very large crude carriers, three very large ammonia carriers, three very large LPG carriers and one wind turbine installation vessel.

By Yonhap

Published Oct 27, 2026 2:28 pm KST
Updated Oct 27, 2026 3:10 pm KST

Hanwha Ocean's Shipyard in Geoje, South Gyeongsang Province / Korea Times file

Korean shipbuilder Hanwha Ocean said Tuesday its third-quarter net profit dropped 46.1 percent from a year earlier, despite strong operating earnings driven by increased sales of high value-added vessels and naval ships.

Net profit stood at 145.1 billion won ($109.6 million) in the July-September period, down from 269.4 billion won a year earlier, the company said in a regulatory filing.

Operating profit jumped 67.6 percent on-year to 485.7 billion won, while sales rose 12.9 percent to 3.41 trillion won over the period.

Revenue from commercial ships reached 2.7 trillion won, while sales from the naval and specialized vessel segment totaled 363 billion won.

Hanwha Ocean attributed the rise in operating profit to increased deliveries of high value-added commercial vessels and stronger revenue from its naval shipbuilding business, including submarines and surface vessels.

As of the end of September, Hanwha Ocean had secured orders worth a combined US$7.72 billion for eight liquefied natural gas (LNG) carriers, six container ships, 18 very large crude carriers (VLCCs), three very large ammonia carriers (VLACs), three very large LPG carriers (VLGCs) and one wind turbine installation vessel (WTIV).

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