President and CEO Lee Seung-cheol of SK oceanplant held a meeting with about 20 analysts on the company’s business performance for the first half of 2023 at Eugene Investment headquarters in Seoul on Aug. 16.
The move came ahead of his one year in office in order to raise the company’s corporate value.
It was the first time SK oceanplant President Lee participated in such a meeting on a business performance since he took office.
The meeting was designed to convey SK oceanplant’s management policies via the CEO’s voices and build trust through active communication with the market.
During the meeting, President Lee explained the business performance for the first half of the year, the best-ever one since the company was founded, as well as the current status of the offshore wind power market in Korea and abroad, plans to expand production capacity and growth strategies as a global wind power company.
“The Taiwanese offshore wind power market is entering a full-fledged expansionary mode this year.
SK oceanplant will continue a successful order history based on the reliability and technology power we have so far accumulated,” President Lee said.
SK oceanplant will devote itself to becoming a dominant leader in the global offshore wind power substructure market, he said.
SK oceanplant achieved the best-ever half sales and the best-ever half operating profit.
In an electronic filing made on Aug. 14, the company posted 477.6 billion won in the first half of 2023, a 40.3 percent year-on-year surge over 340.5 billion won in 2022 H1.
The offshore wind power business accounted for 256.5 billion won out of the total 477.6 billion won in 2023 H1 sales.
Sales related to the completion of delivering Taiwanese offshore Round 2 jacket substructure and Hai Long project was owe to the company’s logging the best-ever half sales.
SK oceanplant saw 2023 H1 operating profit stand at 48.7 billion, a 29.9 percent year-on-year jump or an increase of 11.2 billion won over 37.5 billion won during the same period of last year.
The annual average growth rate, starting the first half of 2021, was outstanding.
The company saw sales surge from 216.7 billion won in 2021 H1 to 340.5 billion won in 2022 H1 and 477.6 billion won in 2023 H1, showing annual average growth rate of 48.5 percent.
The annual average growth rate of operating profit during the same period was superb, analysts noted.
SK oceanplant saw its operating profit surge from 14.4 billion won in 2021 H1 to 37.5 billion won in 2022 H1 and 48.7 billion won in 2023 H1, representing an annual average growth rate of 83.9 percent.
SK oceanplant has made a stride in the building of the green hydrogen value chain, ranging from the development of offshore wind power projects, to production of core component and equipment pieces and to green hydrogen production and utilization.
SK oceanplant is predicted to land new orders in succession in the second half of the year. Taiwan, SK oceanplant’s mainstay supply market, is to award Round 3 offshore wind power project in the second half of the year.
The upcoming order will involve a 1.5GW capacity worth about 899 billion won.
The Round 3 Project calls for building wind power generators with a combined capacity of 15GW by 2035.
SK oceanplant has a track record of winning orders on 193 substructure units with a combined capacity of about 2GW in conjunction of the implementation of Round 1 and Round 2 projects.
The company is hitting the gas to explore new wind power markets, including the Korean market, which is to be blossomed fully, and the United States, which is expanding faster than expected.
SK oceanplant President Lee said, “Korea has been planning a 6GW wind power project off Ulsan, a 4GW one off the South Coast and a 4.6GW one off the Southwest Coast.” U.S. states has plans to build offshore wind power plants with a combined 75Gw by 2045.
SK oceanplant plans to secure new yards not only in Goseong, Gyeongsangnam-do, but also in Vietnam, he said.
SK ecoplant Joins ‘Team Korea’ to Win 600 Billion Won Mega Photovoltaic Power Project in US
A group of public entities, companies and policy funds, dubbed “Team Korea,” took home a U.S. mega photovoltaic power plant project worth 600 billion won.
Korea Overseas Infrastructure and Urban Development Corp. (KIND); the Global Plant, Infrastructure and Smart City (PIS) Fund; private companies SK ecoplant, Hyundai Engineering & Construction, EIP Asset Management; and solar power company Topsun are all participating in the project.
The project involves building a 459MW photovoltaic power plant in Concho County, Texas. Related fund investment contracts and membership interest purchase agreement were struck on Aug. 16 and Aug. 17, respectively.
_SK오션플랜트 23년 상반기 실적간담회.jpg)
