Hanwha Systems Q3 Operating Profit 37.3 Billion Won... Exceeds Expectations

"K-Defense Large-Scale Mass Production and Export Project Performance Drive"

Hanwha Systems announced on the 30th that it posted a 'surprise performance' exceeding market expectations with a preliminary consolidated operating profit of 37.3 billion KRW, sales of 620.8 billion KRW, and net profit of 41.1 billion KRW in the third quarter.

The consensus estimates from securities firms listed on financial information provider FnGuide were operating profit of 21.0 billion KRW, sales of 522.4 billion KRW, and net profit of 10.7 billion KRW. The net profit was nearly four times higher. Hanwha Systems stated, "Fueled by the K-defense boom, export and mass production businesses have expanded, and large-scale new businesses that received focused investment last year have entered the operational phase, resulting in a clear rebound in performance."

In the defense sector, major projects such as the TICN (Tactical Information Communication Network) 4th mass production project, 30mm wheeled anti-aircraft gun mass production, and mass production of the military satellite communication system-II network control system and ground terminals drove the performance. Sales from the M-SAM Cheongung-II multifunction radar (MFR) for the medium-range surface-to-air guided missile system, exported to the United Arab Emirates (UAE) in January last year for about 1.1 billion USD (approximately 1.3 trillion KRW at the exchange rate at the time), began to be recorded.

In the Information and Communication Technology (ICT) sector, projects are underway including the AI digital textbook joint platform led by the Korea Textbook Association, Shinhan Life FC&GA sales support system, Hanwha Aerospace system integration, and enterprise resource planning (ERP) system construction. They are also working on the EBS metaverse platform 'WeCanvas' and AI-based education platforms.

As new businesses, Hanwha Systems is engaged in low-earth orbit satellite communication business known as 'space internet,' urban air mobility (UAM), and blockchain-based digital platforms. Hanwha Systems said, "We are pioneering business areas that will lead the era of hyper-connectivity, hyper-intelligence, and hyper-convergence, securing future growth engines for the company."

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