Hanwha Aero, 2Q Operating Profit 132.6 Billion KRW... "Largest 2Q Performance Since Acquisition"

[Asia Economy Reporter Jeong Hyunjin] Hanwha Aerospace announced on the 5th that it recorded the highest-ever second-quarter performance since being acquired by Hanwha in 2015.

Through a disclosure on the same day, Hanwha Aerospace announced preliminary results showing that its sales in the second quarter of this year increased by 41.4% year-on-year to 1.6864 trillion KRW, and operating profit rose by 88.9% to 132.6 billion KRW. The first half results were sales of 2.8988 trillion KRW and operating profit of 198.4 billion KRW.

By business segment, the defense sector saw an increase in sales compared to the same period last year, supported by engine sales for naval vessels. Hanwha Systems achieved results exceeding market expectations due to increased mass production sales and operating profit in the defense sector, as well as expanded operating profit contribution from the ICT sector. Hanwha Defense experienced a slight decrease in sales compared to the previous year due to a decline in overseas sales.

The civilian sector achieved record performance for the second consecutive quarter this year. Hanwha Techwin saw significant year-on-year increases in both sales and operating profit due to growth in the US B2B market for its CCTV business. Hanwha Power Systems maintained its growth trend based on previously secured order volumes. Hanwha Precision Machinery continued strong sales of chip mounters in small home appliances and LEDs in China, achieving record-high sales and profits consecutively since its launch last quarter.

A Hanwha Aerospace official stated, "We achieved strong performance for the second consecutive quarter this year based on solid results in the defense sector and improved profitability in the civilian sector," adding, "We will continue the growth trend maintained last year despite the COVID-19 situation this year as well."