STX Heavy Industries Co., Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 12:01 am EST
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STX Heavy Industries Co., Ltd. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was KRW 69,355.95 million compared to KRW 31,915.48 million a year ago. Net loss was KRW 244.54 million compared to net income of KRW 12,429.72 million a year ago. Basic loss per share from continuing operations was KRW 9 compared to basic earnings per share from continuing operations of KRW 390 a year ago. Basic loss per share was KRW 9 compared to basic earnings per share of KRW 414 a year ago. Diluted loss per share was KRW 9.
For the nine months, sales was KRW 2,098.79 million compared to KRW 3,481.73 million a year ago. Net income was KRW 5,625.41 million compared to KRW 11,516.67 million a year ago. Basic earnings per share from continuing operations was KRW 196 compared to KRW 451 a year ago. Basic earnings per share was KRW 196 compared to KRW 451 a year ago. Diluted earnings per share was KRW 196 compared to KRW 451 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. 
