Hanwha Aero's Defense Exports Surpass Domestic Sales... Record-Breaking Performance

Hanwha Aerospace achieved its highest-ever performance as its defense export scale surpassed domestic sales for the first time.

Hanwha Aerospace announced on the 27th that it recorded consolidated sales of 1.927 trillion KRW and an operating profit of 228.5 billion KRW in the first quarter. Compared to the same period last year, sales increased by 65% and operating profit by 385%, marking the highest operating profit for two consecutive quarters.

The defense business posted sales of 841.5 billion KRW and an operating profit of 177 billion KRW, increasing by 247% and 5107% respectively compared to the same period last year. This was due to continued exports of the K9 self-propelled howitzer and the high-performance guided missile system Cheonmu to Poland, as well as the inclusion of the performance of Hanwha Defense Co., Ltd., which merged on the 1st of this month. Notably, for the first time ever, quarterly defense export revenue exceeded 56% (approximately 474.9 billion KRW) of defense sales.

The aerospace business recorded sales of 390 billion KRW, a 31% increase from the same period last year, and an operating profit of 15.9 billion KRW, turning profitable. This was influenced by increased demand for aircraft engine maintenance due to the recovery of global logistics and travel demand.

Subsidiary Hanwha Vision (formerly Hanwha Techwin) achieved sales of 273.6 billion KRW, a 26% increase from the same period last year, and an operating profit of 37.5 billion KRW, a 13% increase, driven by increased CCTV sales in the North American region.

A Hanwha Aerospace official said, "Korea's 50-year history of defense industry, led by the government, is growing into a private-sector-centered export industry in line with government policy directions. We will proactively secure advanced aerospace and defense technologies to become an essential company for Korea that contributes not only to national security but also to the economy."

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