Hanwha Aerospace Q2 Operating Profit 83.1 Billion KRW... 5% Decrease YoY

Sales increased by 23% to 1.7981 trillion
"Ensuring smooth supply for Poland exports in the second half"

Hanwha Aerospace announced on the 27th that it achieved consolidated sales of 1.7981 trillion KRW and an operating profit of 83.1 billion KRW in the second quarter of this year. Sales increased by 23% compared to the previous year, while operating profit decreased by 5%.

By business segment, the defense business recorded sales of 600.1 billion KRW and an operating profit of 23.8 billion KRW, reflecting the performance of Hanwha Defense, which merged in April this year, representing increases of 80% and 58% respectively compared to the previous year.

Sales in the aviation business amounted to 401.9 billion KRW, a 10% increase from the second quarter of last year, while operating profit was 5.5 billion KRW, down 76%. As the COVID-19 pandemic effectively ended, travel demand increased, leading to higher demand for aircraft engine maintenance. However, the second quarter performance this year decreased compared to the previous year because the engine business profit, which was temporarily reflected in the second quarter of last year, did not occur.

Hanwha Vision, a major subsidiary, recorded sales of 284.1 billion KRW, an 11% increase compared to the same period last year, due to continuous growth in CCTV sales in the North American market. Operating profit reached 45.7 billion KRW, a 28% increase, achieving the highest quarterly operating profit in its history.

A Hanwha Aerospace official stated, "The defense sector's performance is solid, and the subsidiaries' results, including Hanwha Vision, are positive. We will proceed smoothly with the scheduled exports of the K9 and Cheonmu to Poland in the second half of the year and actively pursue additional orders."

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