HJ Shipbuilding & Construction's Cumulative Operating Profit Through Q3 Surges at Least Eightfold Year on Year to 155.4 Billion Won

[Financial News] HJ Shipbuilding & Construction lifted its cumulative operating profit through the third quarter this year to at least eight times its year-earlier level, thanks to improved profitability in its shipbuilding division and stable operations in its construction division.
HJ Shipbuilding & Construction said on the 13th that it recorded consolidated revenue of 2.0044 trillion won, operating profit of 155.4 billion won and net income of 130.6 billion won for the first three quarters of 2026, according to a disclosure filed on the 12th.
Revenue was up 46.3% from the same period last year. Operating profit rose from 16.6 billion won a year earlier to at least eight times that amount, while net income surged at least 44-fold, from 2.9 billion won to 130.6 billion won.
The shipbuilding division led the improvement in results. Revenue and profitability improved as construction of eco-friendly, high-value-added container ships in the company's core merchant vessel business moved into full swing. The specialized vessel segment, including maintenance, repair and overhaul (MRO) work on United States Navy (USN) warships, also contributed to stable earnings.
The shipbuilding division's cumulative revenue through the third quarter rose 88.1% to 1.1297 trillion won, from 600.5 billion won in the same period a year earlier. Operating profit reached 149.7 billion won, leading the improvement in the company's overall profitability. The company said that raising dock utilization and maximizing process efficiency to maintain a stable production flow, despite a decline in exchange rates and fewer operating days due to summer vacation and the Chuseok holiday, were key.
The construction division also maintained a stable business base centered on its core areas, including public works, civil engineering and housing. Cumulative revenue through the third quarter was 874.2 billion won, and operating profit was 5.6 billion won, sustaining its profitable trend. The company plans to continue selectively pursuing contracts in competitive areas such as public works and urban improvement projects, while boosting the division's profitability through process and cost management and more efficient site operations.
An HJ Shipbuilding & Construction official said, “The shipbuilding division grew on the back of a larger share of revenue from high-value-added vessels and various specialized vessel projects, while stable contract wins and business operations in the construction division supported the strong results.” The official added, “We will continue to strengthen the competitiveness of both business divisions and sustain our growth through profitability-focused management, while working to enhance corporate and shareholder value.”
[email protected] Kwon Byeong-seok Reporter