[Edaily Reporter Kwon Oh Seok ] The benefits of the supercycle (boom) in the Chonbang shipbuilding industry are translating into sharp earnings growth for marine engine parts manufacturers.

According to the shipbuilding equipment industry on the 13th, KSP CO., LTD(073010)’s cumulative consolidated revenue for the third quarter of this year reached 84.2 billion won, a 21% increase compared to the same period last year. Cumulative operating profit for the same period surged 27% to 11.6 billion won, already surpassing last year’s full-year operating profit in just three quarters. Cumulative net income stood at 6.1 billion won, maintaining a solid profit trend. Notably, third-quarter revenue alone reached 27.8 billion won, marking the second-highest quarterly figure in the company’s history.
The primary driver of this simultaneous growth in scale and profitability was the company’s core business: large marine engine components. As supply volumes of key components—such as exhaust valve spindles—to major domestic and international engine manufacturers expanded, cumulative revenue in the large marine engine segment rose 28% year-over-year to 49.2 billion won. Revenue from marine components in the forged parts division also jumped 44% to 10.5 billion won.
The order backlog, which underpins future earnings visibility, continues to set new records every quarter. The order backlog, which surpassed the 100 billion won mark for the first time in the company’s history at the end of April, rose to 115.9 billion won at the end of the first half and further increased to 128.3 billion won as of the end of the third quarter. This represents a 61% surge year-over-year, marking an all-time high and amounting to approximately 1.3 times last year’s annual revenue (95.5 billion won).
KSP CO., LTD plans to solidify its medium- to long-term growth momentum by expanding production capacity (CAPA) in response to the increased order volume and diversifying into non-shipbuilding sectors. A company official stated, “Building on our record-high order backlog, we will not only achieve annual revenue of 100 billion won for the first time this year but also continue our growth momentum next year,” adding, “We will further boost profitability by expanding production capacity through the relocation to a new factory and diversifying into high-value-added businesses such as defense, power generation, and aerospace components.”