Hanwha Systems (272210) Q2 2025 earnings summary

Executive summary

• Revenue increased 12% year-over-year and 11% sequentially, driven by the consolidation of Philly Shipyard.

• Operating profit declined 60% year-over-year and 42% sequentially, mainly due to expenses from Philly Shipyard.

• Net profit rose 74% year-over-year and 15% sequentially, with improved net profit margin.

Financial highlights

• 2Q 2025 revenue: KRW 768.2bn (+12% YoY, +11% QoQ).

• Operating profit: KRW 33.5bn (-60% YoY, -42% QoQ).

• EBIT: KRW 78.4bn (+489% YoY, +99% QoQ).

• Net profit: KRW 47.0bn (+74% YoY, +15% QoQ).

• Operating margin: 4.4% (down 7.9pp YoY).

Outlook and guidance

• Minimum dividend of KRW 350 per share planned for 2025–2027 to ensure stability.

• Dividend policy to be announced in advance, with changes to record date for predictability.