[Click eStock] "Hanwha Systems aims for 14-fold sales increase in 10 years... Promising investment from a mid- to long-term perspective"

[Asia Economy Reporter Park Ji-hwan] Mirae Asset Securities stated on the 8th that Hanwha Systems has a high likelihood of realizing its goal of 14-fold sales growth in 10 years and recommended investment from a mid- to long-term perspective. Accordingly, it maintained a 'Buy' investment rating and raised the target price by 11.8% from the previous 26,824 KRW to 30,000 KRW.

Researcher Lee Jae-kwang of Mirae Asset Securities said, "Due to the impact of new businesses, performance significantly increased compared to the previous year," adding, "Sales reached 367 billion KRW, up 29.9%, and operating profit was 31 billion KRW, up 180.8%." The relatively higher increase in operating profit compared to sales is attributed to a reduction in expenses such as selling and administrative costs.

Sales this year are expected to grow by about 8%. Ultra Air Mobility (UAM) and satellite communication businesses are anticipated to experience rapid growth starting in 2025. Considering existing businesses such as TICN 3rd phase mass production, IFF MODE 5, air defense C2A, JTDLS defense projects, next-generation ERP, external finance next-generation projects, and digital New Deal ICT projects, sales growth is expected to continue this year following last year.

Regarding new businesses, both UAM and satellite communication aim for commercialization by 2025. The targeted sales for 2030 are expected to be around 11 trillion KRW for UAM and 5.8 trillion KRW for satellite communication. Hanwha Systems has set a 2030 sales target of 23 trillion KRW, representing a 14-fold growth goal compared to last year.

Researcher Lee stated, "Considering the competitiveness of stable existing businesses and high-growth new businesses (UAM and satellite communication), achieving this goal is fully feasible."

This content was produced with the assistance of AI translation services.