Zenoco, Q1 Order Backlog 97.3 Billion Won... 24% Increase Year-on-Year

Aerospace communication specialist Genoco announced on the 16th that it achieved an order backlog of 97.3 billion KRW in the first quarter of this year, marking a 24% increase compared to the same period last year. During the same period, sales increased to 13 billion KRW.

Based on these results, Genoco stated, "The increase in order backlog raises expectations for annual performance growth this year." This reflects orders related to △ microsatellite business △ satellite EGSE (Electrical Ground Support Equipment) development △ LAH (Light Armed Helicopter) intercom mass production. These will be reflected in sales starting from the second quarter.

On the other hand, operating profit turned to a loss during the same period. This was due to a temporary increase in cost ratio caused by differences in the timing of cost recognition for some projects. The company expects significant improvement in the second quarter.

Genoco has actively driven the strengthening of its avionics business this year. With the establishment of the Space Agency (Space청) in May, growth in the satellite communication and EGSE sectors and collaboration with global companies such as Viasat are expected to become visible. The company has already developed the 'X-BAND TRANSMITTER' equipment, which plays a very important role in the communication field, for the first time in Korea, earning worldwide recognition for its excellent technology.

Yoo Tae-sam, CEO of Genoco, said, "Until now, the company has built a strict quality system and focused on research and development to participate in global competition," adding, "Starting this year, we plan to continue close cooperation with various foreign companies for substantial performance growth, and through this, we expect to improve profitability."

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