HD Korea Shipbuilding & Offshore Engineering (KSOE) Co., a subholding company of shipbuilding giant HD Hyundai Co., said Monday its fourth-quarter net profit rose nearly 40 percent from a year earlier on strong shipbuilding sales.
Its net income totaled 993 billion won (US$677.2 million) on a consolidated basis for the October-December period, up 36.6 percent from 727.1 billion won a year earlier, according to the company in a regulatory filing.
Operating profit more than doubled to 1.03 trillion won for the quarter from 499.1 billion won a year ago. Revenue rose 13.8 percent to 8.15 trillion won.
HD KSOE said the robust quarterly earnings were driven by improved productivity and strong sales in its shipbuilding business.
Its shipbuilding units — HD Hyundai Heavy Industries Co. and HD Hyundai Samho Heavy Industries Co. — earned a combined 6.74 trillion won in sales and 862.1 billion won in operating profit for the fourth quarter, up 8.4 percent and 79.3 percent on-year, respectively.
For all of 2025, HD KSOE reported a annual net profit of 2.92 trillion won, up 101.3 percent from a year earlier.
Its operating income surged 172.3 percent on-year to 3.9 trillion won and annual sales rose 17.2 percent to 29.93 trillion won.
Source: Yonhap News Agency