STX Heavy Industries Co., Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 14, 2022 at 01:18 am EST
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STX Heavy Industries Co., Ltd. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was KRW 53,010.37 million compared to KRW 38,757.11 million a year ago. Net income was KRW 12,429.72 million compared to net loss of KRW 505.62 million a year ago. Basic earnings per share from continuing operations was KRW 438 compared to basic loss per share from continuing operations of KRW 18 a year ago. Diluted earnings per share from continuing operations was KRW 438 compared to diluted loss per share from continuing operations of KRW 18 a year ago. Basic earnings per share was KRW 438 compared to basic loss per share of KRW 18 a year ago.
For the nine months, sales was KRW 132,101.48 million compared to KRW 116,982.11 million a year ago. Net income was KRW 11,516.67 million compared to net loss of KRW 17,066.9 million a year ago. Basic earnings per share from continuing operations was KRW 406 compared to basic loss per share from continuing operations of KRW 602 a year ago. Diluted earnings per share from continuing operations was KRW 406 compared to diluted loss per share from continuing operations of KRW 602 a year ago. Basic earnings per share was KRW 406 compared to basic loss per share of KRW 602 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. 
