STX Heavy Industries Co., Ltd. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 11, 2023 at 03:46 am EDT
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STX Heavy Industries Co., Ltd. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was KRW 75,591.33 million compared to KRW 45,034.17 million a year ago. Net income was KRW 5,829.24 million compared to KRW 715.11 million a year ago. Basic earnings per share from continuing operations was KRW 204 compared to KRW 72 a year ago. Diluted earnings per share from continuing operations was KRW 204 compared to KRW 72 a year ago. Basic earnings per share was KRW 204 compared to KRW 25 a year ago.
For the six months, sales was KRW 1,481.44 million compared to KRW 2,051.78 million a year ago. Net income was KRW 5,869.95 million compared to net loss of KRW 913.06 million a year ago. Basic earnings per share from continuing operations was KRW 205 compared to KRW 37 a year ago. Diluted earnings per share from continuing operations was KRW 205 compared to KRW 37 a year ago. Basic earnings per share was KRW 206 compared to basic loss per share of KRW 32 a year ago.
STX Heavy Industries Co., LTD is a Korea-based company mainly engaged in the manufacture of ship engine components. The Company operates its business mainly through engine component segment and shipbuilding material segment. Its engine component segment mainly produces diesel engine components, including cylinder blocks, crank shafts, cylinder liners and turbochargers, cylinder heads, pistons, cam shafts and connecting rods, which are used in ships and power generators. Its shipbuilding material segment provides cargo oil pump systems, liquefied natural gas carrier (LNGC) insulation boxes, heavy fuel oil (HFO) supply system units and purifier units. On December 3, 2013, KDB and KOREA FINANCE CORPORATION respectively subscribed 15.99% and a 3.90% stake in the Company. After the private placement, KDB and KOREA FINANCE CORPORATION became the Company's top shareholder, replacing STX Engine Co,.Ltd and four related parties, which held a combined 61.94 pct stake in the Company.
STX HEAVY INDUSTRIES CO., LTD. 
