Wednesday, November 7, 2012

[Ship Building] Samsung "Most Stable"

Samsung "Most Stable"

Samsung Heavy Industries has made the most stable earnings during a depression, comparing with other domestic shipbuilders.

Analyst Jun Yong-Bum of IM Investment Bank said on November 5, "Samsung Heavy Industries recorded 8% of operating margin in the third quarter. With high-margin offshore plant taking around 50% of turnover, it has the strongest base."

Particularly, with over 10 vessels scheduled for delivery every year, the Geojae-based shipyard will maintain around KRW 6trn ($5.5bn) of turnover and KRW 3trn of turnover from offshore production facility.

High-value offshore facility will account for about 60% of total revenue.

He projected that some-7% operating margin is likely to continue by at least 2014 and moreover, operating margin can possibly rise even more after 2014, according to recovery of commercial ship market.



Published : November 6, 2012


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