Hanwha Engine (082740) Q2 2025 earnings summary

Executive summary

• Q2 sales were KRW 388B, up KRW 101B YoY; operating profit reached KRW 34B with an 8.7% margin, supported by higher-margin engine deliveries.

• H1 new orders totaled KRW 1,618B, up 150% YoY; backlog stood at KRW 4,014B, equivalent to roughly three years of deliveries.

Financial highlights

• Q2 sales were KRW 388B versus KRW 287B YoY and KRW 318B QoQ; operating profit was KRW 34B versus KRW 19B YoY and KRW 22B QoQ.

• Operating margin was 8.7%, up 2.2pp YoY and 1.7pp QoQ; COGS/sales improved to 88.2% from 90.5% YoY.

• Gross profit was KRW 46B versus KRW 27B YoY; Q2 pretax profit was KRW 15B versus KRW 18B YoY.

Outlook and guidance

• Backlog covered roughly three years of deliveries; dual-fuel engines represented 87% of marine-engine backlog.

• The presentation cited a medium- to long-term global new-order average of 47m CGT for 2026–2033; no company-specific financial guidance was stated.