Samsung Heavy Industries (010140) Q4 2025 earnings summary

Executive summary

• Consolidated financial statements for the year ended December 31, 2025, were audited and received an unqualified opinion, confirming fair presentation under Korean IFRS.

• The internal control system over financial reporting was also found effective as of year-end 2025.

Financial highlights

• Revenue for 2025 was ₩10,650 billion, up from ₩9,903 billion in 2024, a year-over-year increase of 7.5%.

• Net income for 2025 was ₩536 billion, a significant rise from ₩54 billion in 2024.

• Operating income for 2025 was ₩862 billion, up from ₩503 billion in 2024.

• Total assets at year-end 2025 were ₩14,949 billion, down from ₩17,195 billion at year-end 2024.

• Total liabilities decreased to ₩10,854 billion from ₩13,445 billion year-over-year.

Outlook and guidance

• Management continues to monitor geopolitical risks, especially related to Russian projects, and is actively managing contract risks and claims.

• The company is reviewing the impact of upcoming accounting standard changes effective from 2026 and 2027.