Samsung Heavy Industries grows half-year revenue
The shipbuilder reported a consolidated revenue increase of 18.5% compared to the same period last year.
The shipbuilder Samsung Heavy Industries saw its consolidated revenue rise 18.5% year-on-year for the first half of 2026. The shipbuilding and offshore division accounted for 94.19% of this revenue, while the civil engineering and construction division contributed 5.81%.
Operating results for the current half-year show the shipbuilding and offshore division generated the vast majority of the company's operating profit. The company focuses its research and development on creating new products and improving the quality and performance of existing ones to maintain a leading position in the shipbuilding and offshore sector.
The company expanded its corporate structure by establishing two new subsidiaries in the United States during the current period, bringing its total number of consolidated subsidiaries to 11. These include one domestic entity and 10 overseas companies, with three primary subsidiaries located in China and Nigeria,.
Legal disputes persist regarding contracts with a Russian client. The company filed for arbitration in July 2024 after the client unilaterally canceled contracts for LNG carriers and shuttle tankers in June 2024. This follows the designation of the client as a specially designated national by the United States government in February 2024.
Looking forward, the company says the shipbuilding market is subject to fluctuations in shipping conditions, replacement demand for existing fleets, and global energy needs. In the construction sector, the company notes that the outlook is affected by rising construction costs and international instability. The company also states that high-tech construction prospects depend on the investment trends of clients and the market for products like semiconductors.