Slide 1: Earnings Presentation: 3Q 2024 Financial Results
Investor Relations Earnings Presentation: 3Q 2024 Financial Results 2024.10.25
Slide 2: 3Q, 2024 Financial Results Summary
3Q, 2024 Financial Results Summary (KRW billion, %) Sales New Orders Backlog Net Debt 1,496 3,243 2,547 1,162 296 (DF 90 188 (DF Engine) Engine) 91% 90% +5.2% Sales OPM (%) +0.6% -7 ’23.3Q ’24.3Q ’23.09 ’24.09 ’23.12 ’24.09 ’23.12 ’24.09 Confidential | 2
Slide 3: Income Statement
Income Statement ✓ Sales : KRW 296.1B ✓ Operating Profit : KRW15.3B (KRW billion, %) ‘24.3Q ‘23.3Q YoY ‘24.2Q QoQ Key Features 1 (KRW billion, %) Sales 296 188 108 287 10 1 Sales +57.8% YoY COGS(%) (91.0%) (94.8%) (-3.8%p) (90.5%) (+0.5%p) 293 287 296 278 38 44 47 42 Gross Profit 27 10 17 27 -0.5 19
Slide 4: Sales
Sales ✓ 3Q 2024 Sales KRW 296B (3Q 2024 total sales : KRW 876B) ✓ Improved sales and operating profit in 3Q 2024 by significantly reducing low profit engine orders contracted in pre-2022, and delivering high profit orders contracted in 2022 Quarterly Sales & OP Margin Sales Breakdown (KRW B) (KRW B)
Slide 5: New Orders
New Orders ✓ 3Q New Orders: KRW 849B ✓ Sales of DF engine* accounts for 82% in 3Q 2024 of New orders contracted in 2024, LNG carrier accounts for 56% ✓ Separately, profitability of diesel engine contracts has risen significantly as high as DF engine Quarterly New Orders Proportion of DF engine Order
Slide 6: Backlog
Backlog ✓ Backlog: KRW 3,243B, Marine Engine takes 96% of Hanwha Engine orderbook Backlog Breakdown (KRW Billion) 3,113 3,113 SCR Tanker 13% 4% China 34% Container 34% Marine KRW 3,243B Marine Engine (2024.09.30) Engine 96.0% (KRW 3,113B) SHI/HO 66% 53% LNG선 By Ship-type By Customer Confidential | 6
Slide 7: Balance Sheet
Balance Sheet ✓ Net Debt : △KRW 7B ✓ Net Debt ratio 218% ✓ Through capital injection from Hanwha Impact and advances receipt from shipbuilders, net debt position turns into positive cash position in 2024 (KRW Billion) ’23.12 ’24.3Q +/- Current Assets 656 613 -43 Non-current Assets 481 509 28 Total A