Source Fact: Financial Supervisory Service DART / 2024-10-10
Disclosure Type: Single Sales/Supply Contract Execution
💡 3-Second Summary
Hanwha Ocean has executed a major shipbuilding contract with a European shipowner worth approximately KRW 1.693 trillion for the construction of six container ships, running from October 9, 2024, to December 29, 2028.
📊 1. [Key Disclosure Content & Major Figures Summary]
- Contract Name & Particulars: Construction order for six container ships.
- Contracting Counterparty & Region: European shipowner / Europe region.
- Contract Value: KRW 1,693,200,000,000 (KRW 1.693T).
- Proportion to Recent Revenue: 22.9% against the latest fiscal year (2023 year-end consolidated financial statements) revenue of KRW 7,408,300,000,000.
- Contract Period: Commencement Date 2024-10-09 / Expiry Date 2028-12-29.
- Financial Baseline & Parameter Criteria:
- Recent revenue is based on 2023 year-end consolidated financial statements; both contract value and revenue are rounded to the nearest hundred million KRW.
- The total value was calculated applying the base exchange rate of 1 USD = 1,346.50 KRW as of October 8, 2024.
- Additional Note: The original disclosure does not specify advance payment structures, progress payment parameters, detailed vessel specifications, or underlying profit margins. The contract period and final settlement amount remain subject to change during the construction process.
📈 2. [Expert View: Significance for Investors]
This disclosure demonstrates that Hanwha Ocean has formalized a large-scale shipbuilding contract with a European maritime entity totaling KRW 1.693 trillion. The contract value equals 22.9% of the company’s 2023 consolidated revenue, representing a high-volume deal that contributes to securing mid-to-long-term order backlogs and stabilizing shipyard dock utilization rates.
Investors should perceive the execution period of this contract as a defined duration spanning from October 9, 2024, through December 29, 2028, lasting approximately four years, exactly as stated in the text. The disclosure does not specify or address specific profitability metrics, quarter-by-quarter cash inflows, or precise accounting treatment methodologies. Therefore, it is inappropriate for investors to definitively assume any certain financial impacts on overall cash flow stability, working capital liquidity, or short-term earnings. Investors should focus strictly on the defined contract clauses and the potential adjustments to the contract period and final settlement values over the course of the project.
📝 Editor’s Comment (by K-STOCK Editor)
This regulatory filing documents that Hanwha Ocean has secured a contractual agreement for six container ships equaling 22.9% of its annual revenue from an international shipping firm. The baseline calculations are anchored to the exchange rate of October 8, 2024 (1 USD = 1,346.50 KRW).
The core variable for readers to trace going forward is the operational potential for contract parameter revisions. As explicitly denoted in the reporting details, the contract period and final settlement figures are subject to subsequent updates during construction. Investors should track future quarterly and half-year reports (Q1~Q4, H1~H2) regarding outstanding order balances and subsequent amendment filings to examine how these contract numbers are adjusted or maintained based entirely on objective data.
📢 Disclaimers and Source Information
Source: This content has been newly structured and written based on official data submitted to the Financial Supervisory Service’s Electronic Disclosure System (DART).
Investment Risk Notice: This content is provided solely for informational and linguistic reference purposes. Under no circumstances does it constitute financial advice or a recommendation to buy or sell specific stocks. All investment decisions and financial responsibilities rest entirely with the investor.
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