Kenkou Aerospace, 3Q Cumulative Sales of 68 Billion KRW, Up 24% YoY... "Record High Sales Achieved"

Kenkorea Aerospace set a new record for its best-ever performance in the third quarter.

On the 15th, Kenkorea Aerospace announced that its cumulative consolidated sales for the third quarter reached 68 billion KRW. This represents a 24% increase compared to the same period last year and accounts for 90% of last year's total sales.

During the same period, operating profit and net profit continued their positive streak, recording 2.2 billion KRW and 1.4 billion KRW respectively.

The growth in performance is attributed to the full reflection of sales from the second phase of the P2F (Passenger-to-Freighter conversion) project orders and the strong global aerospace business, including the U.S. aerospace and defense sector. In particular, the P2F business has been steadily securing new projects, with new development and mass production progressing simultaneously.

Sales in the U.S. aerospace and defense sector also increased. As U.S. aerospace and defense companies such as Lockheed Martin and Boeing Defense have recently recovered their production volumes, Kenkorea USA's sales grew by 44% compared to the same period last year. The U.S. has finalized its defense budget for this year at a record high of 816 billion USD (1,067 trillion KRW), a 10% increase from the previous year, and major countries are increasing their defense budgets, leading to rapid growth in the aerospace and defense market.

A company representative explained, “The second phase of P2F project orders has smoothly passed the initial shipment period since early this year, and from next year, the second phase orders are expected to enter a full-scale profit-generating stage. Despite a significant increase in initial investment costs due to many new projects, we are maintaining a profitable trend, and profitability is expected to improve over time as we enter a stabilization phase.”

They added, “We will secure a stable cash cow through the defense and P2F businesses, and enhance corporate value next year by promoting new businesses such as the U.S. space business and UAM business. Additionally, as the front markets in the defense and aircraft manufacturing sectors are rapidly growing, we plan to focus on securing additional businesses to further strengthen Kenkorea’s competitiveness.”

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