Samsung Heavy Industries reported a 4.9% year-on-year increase in net profit for the second quarter, driven by stronger contributions from high-end vessels and gains in production efficiency.
The results highlight the continued strength in the global shipbuilding cycle, where demand for premium, energy-efficient ships remains robust despite broader macroeconomic headwinds.
Samsung Heavy recently pushed its cumulative order book above US$10 billion for the year, bolstered by a new contract for two oil tankers worth 284.
The profit growth reflects the yard's strategic focus on higher-margin segments, including liquefied natural gas (LNG) carriers and other specialized tonnage.
By optimizing its production processes, Samsung Heavy has been able to translate increased order volumes into improved bottom-line performance, even as input costs remain elevated across the sector.
This quarterly performance builds on a strong order intake trajectory for the company.
Samsung Heavy recently pushed its cumulative order book above US$10 billion for the year, bolstered by a new contract for two oil tankers worth 284.9 billion won (US$188.5 million).