Seoul: HD Korea Shipbuilding and Offshore Engineering (KSOE) Co., a subholding company of shipbuilding giant HD Hyundai Co., reported a significant rise in its fourth-quarter net profit, attributing the increase to robust shipbuilding sales. The company announced that its net income for the October-December period reached 993 billion won (US$677.2 million) on a consolidated basis, marking an increase of 36.6 percent from 727.1 billion won recorded in the same period the previous year.
According to Yonhap News Agency, the regulatory filing by HD KSOE revealed that the company's operating profit more than doubled to 1.03 trillion won for the quarter, compared to 499.1 billion won a year earlier. The company's revenue also saw a substantial increase of 13.8 percent, reaching 8.15 trillion won. The impressive quarterly earnings were largely driven by enhanced productivity and robust sales in the shipbuilding sector.
The shipbuilding units of HD KSOE, namely HD Hyundai Heavy Industries Co. and HD Hyundai Samho Heavy Industries Co., reported a combined sales figure of 6.74 trillion won and an operating profit of 862.1 billion won for the fourth quarter. These figures represent an 8.4 percent and 79.3 percent increase year-on-year, respectively.
For the entire year of 2025, HD KSOE reported an annual net profit of 2.92 trillion won, reflecting a 101.3 percent increase from the previous year. The company's operating income surged by 172.3 percent year-on-year to 3.9 trillion won, while annual sales rose by 17.2 percent to 29.93 trillion won.