Samsung Heavy Q1 2026 OP KRW 273.1B... Net Debt Sharply Down

Q1 2026 consolidated sales KRW 2.90 trillion (+16.4% YoY), operating profit KRW 273.1 billion, controlling net profit KRW 101.6 billion.
Order backlog KRW 29.52 trillion; Q1 market share 22.1% (industry 2nd).
Net debt KRW 157.8 billion, sharply down from KRW 1.28 trillion at year-end; capital gearing ratio 3.42%.
Recognized KRW 750.7 billion in liabilities related to contract termination with Russian shipowner Zvezda; arbitration ongoing.
Total borrowings KRW 1.20 trillion, cash equivalents KRW 1.04 trillion; financial structure improved.
R&D spending KRW 25.2 billion (0.9% of sales), focused on LNG carriers and eco-friendly technologies.