Hanwha Ocean Co., Ltd. financial statements, 6 years: Back to a profit in 2023 after a net loss of KRW 1.74tn in 2022
Consolidated financial statements for 2020–2025 and the 2026 half-year report that Hanwha Ocean Co., Ltd. filed with DART, laid out by year. No interpretation or outlook.
Hanwha Ocean Co., Ltd. financial statements, 6 years: Back to a profit in 2023 after a net loss of KRW 1.74tn in 2022
The consolidated financial statements in the 2020–2025 annual reports that Hanwha Ocean Co., Ltd. (042660) filed with Korea’s DART electronic disclosure system, laid out by year. Figures from the 2026 half-year report cover a different period and are shown separately. Every figure below is taken as filed in the DART submissions; there is no interpretation or outlook. Amounts are in Korean won (KRW; bn = billion, tn = trillion).
1. Income statement — the sign of net income changed in 2 years
| Fiscal year | Revenue | Revenue change | Operating income | Op. income change | Operating margin | Net income |
|---|---|---|---|---|---|---|
| 2020 | 7.03tn | — | 153.4bn | — | 2.2% | 86.6bn |
| 2021 | 4.49tn | −36.18% | −1.75tn | turned to loss | −39.1% | −1.70tn |
| 2022 | 4.86tn | +8.33% | −1.61tn | loss narrowed | −33.2% | −1.74tn |
| 2023 | 7.41tn | +52.43% | −196.5bn | loss narrowed | −2.6% | 160.0bn |
| 2024 | 10.78tn | +45.46% | 237.9bn | turned to profit | 2.2% | 528.2bn |
| 2025 | 12.78tn | +18.63% | 1.17tn | +390.84% | 9.1% | 1.25tn |
Revenue was largest in 2025 at KRW 12.78tn and smallest in 2021 at KRW 4.49tn among the six years. It fell from the previous year once: 2021 (−36.18%).
Operating income was largest in 2025 at KRW 1.17tn and smallest in 2021 at KRW −1.75tn. The operating margin was highest in 2025 at 9.1%.
Net income was largest in 2025 at KRW 1.25tn and smallest in 2022 at KRW −1.74tn.
2. Financial position — equity became 1.60x
| Fiscal year | Total assets | Total equity | Debt ratio | Current ratio |
|---|---|---|---|---|
| 2020 | 10.32tn | 3.87tn | 166.8% | 115.3% |
| 2021 | 10.62tn | 2.22tn | 379.0% | 86.8% |
| 2022 | 12.24tn | 745.0bn | 1542.4% | 73.3% |
| 2023 | 13.94tn | 4.31tn | 223.4% | 123.6% |
| 2024 | 17.84tn | 4.86tn | 266.9% | 108.7% |
| 2025 | 20.14tn | 6.18tn | 226.2% | 107.9% |
The debt ratio was highest in 2022 at 1542.4% and lowest in 2020 at 166.8%.
Over the same period total assets went from KRW 10.32tn to KRW 20.14tn (1.95x), and total equity went from KRW 3.87tn to KRW 6.18tn and became 1.60x.
The current ratio was below 100% in 2 years, 2021 and 2022 — in those years current liabilities exceeded current assets.
3. Cash flow — negative in 4 years
| Fiscal year | Operating cash flow | Net income | ROE |
|---|---|---|---|
| 2020 | −458.5bn | 86.6bn | 2.2% |
| 2021 | 485.8bn | −1.70tn | −76.7% |
| 2022 | −1.07tn | −1.74tn | −234.2% |
| 2023 | −1.94tn | 160.0bn | 3.7% |
| 2024 | −2.90tn | 528.2bn | 10.9% |
| 2025 | 1.31tn | 1.25tn | 20.2% |
Operating cash flow was negative in 2020, 2022, 2023 and 2024. It was largest in 2025 at KRW 1.31tn.
ROE was highest in 2025 at 20.2% and lowest in 2022 at −234.2%.
4. Latest half-year report (end of H1, 27th fiscal period, consolidated basis)
The period differs, so these figures cannot be compared directly with the annual tables above. Only cumulative figures for the same period of the previous year are compared.
| Item | 2026 cumulative | Same period last year | Change |
|---|---|---|---|
| Revenue | 8.65tn | 6.44tn | +34.42% |
| Operating income | 1.18tn | 630.3bn | +86.76% |
| Net income | 1.19tn | 364.2bn | +227.46% |
| Finance income | 617.2bn | 534.3bn | +15.52% |
| Operating cash flow | 1.04tn | — | — |
At the end of the period, total assets were KRW 20.15tn, total liabilities KRW 12.62tn and total equity KRW 7.53tn.
The cumulative operating margin was 13.6%.
5. Ownership, dividends and staff (as of the 2025 annual report)
- Largest shareholder: Hanwha Aerospace Co., Ltd., stake 30.44%
- No cash dividend was reported in the 2025 annual report
- Employees: 11,178, average pay per employee KRW 97m
How to read this
This page lays out the filed figures by year and nothing more. Financial statements do not say why the numbers moved, so neither do we.
The order of publication follows revenue in the latest fiscal year and has nothing to do with the content.
To check the same figures, search for the company on DART and open the consolidated financial statements in its annual reports. Every number here was computed from the 2020–2025 annual reports and the interim report downloaded through the OpenDART API on 2026-10-13; ratios divide the filed account amounts.
This article is for information only and is not investment advice.