Core Insights - HD Korea Shipbuilding & Marine Engineering reported a significant increase in Q1 2023 financial performance, with revenue reaching 67,717 billion KRW (approximately 47.13 billion USD), a year-on-year growth of 22.8% [2] - Operating profit surged to 8,592 billion KRW (approximately 5.98 billion USD), marking a remarkable increase of 436.3% year-on-year [2] - Net profit also saw a substantial rise to 6,116 billion KRW (approximately 4.26 billion USD), up 216.4% compared to the previous year [2] - The shipbuilding segment alone achieved an operating profit of 7,814 billion KRW (approximately 5.44 billion USD), reflecting a 207.2% increase year-on-year [2] Revenue Breakdown - HD Hyundai Heavy Industries, a subsidiary, generated revenue of 38,225 billion KRW (approximately 26.6 billion USD), contributing 56.4% to the total revenue of HD Korea Shipbuilding & Marine Engineering [3] - Operating profit from HD Hyundai Heavy Industries was 4,337 billion KRW (approximately 3 billion USD), accounting for 50.5% of the total operating profit [3] - HD Hyundai Samho reported revenue of 19,664 billion KRW (approximately 13.69 billion USD) and an operating profit of 3,659 billion KRW (approximately 2.55 billion USD), maintaining strong growth [3] - HD Hyundai Ulsan achieved revenue of 11,838 billion KRW (approximately 8.24 billion USD) and an operating profit of 685 billion KRW (approximately 476.7 million USD), showing improvement from a loss of 110 billion KRW (approximately 800 million USD) in Q1 of the previous year [3] Engine and Machinery Performance - The engine subsidiary, HD Hyundai Marine Engines, reported revenue of 830 billion KRW (approximately 577.6 million USD), a year-on-year increase of 35.3% [4] - Operating profit for the engine subsidiary reached 103 billion KRW (approximately 717 million USD), up 64.4% year-on-year [4] - The overall engine and machinery business achieved revenue of 667.2 billion KRW (approximately 4.64 billion USD), reflecting a 48.7% increase, and an operating profit of 1,543 billion KRW (approximately 1.07 billion USD), up 103.3% [4] Offshore Equipment Business - The offshore equipment segment saw revenue of 1,613 billion KRW (approximately 1.12 billion USD), a year-on-year growth of 43.8% [5] - The segment successfully turned around from a loss of 776 billion KRW (approximately 560 million USD) in the previous year to an operating profit of 66 billion KRW (approximately 460 million USD) [5] - The company aims to enhance digitalization, develop eco-friendly technologies, and focus on high-value-added ships to strengthen profitability [5]