[Asia Economy Reporter Kim Heung-soon] Hanwha Aerospace announced on the 29th that its consolidated operating profit for the third quarter of this year was preliminarily estimated at 103.3 billion KRW, a 9.6% increase compared to the same period last year. Sales reached 1.5425 trillion KRW, up 12% year-on-year.
By business segment, in the aerospace defense sector, Aerospace saw improvements in sales and operating profit due to the recovery of the civilian business. Hanwha Systems stated that it achieved results exceeding market expectations thanks to increased mass production sales in the defense sector and steady growth in the ICT sector.
In the civilian sector, Hanwha Precision Machinery showed steady growth in markets such as the Chinese LED market, resulting in significant increases in both sales and operating profit compared to the previous year. Hanwha Techwin also experienced growth in sales and profits this year compared to last year, based on continuous growth in the North American B2B market.
A Hanwha Aerospace official said, "Based on stable performance in the defense sector and improved profitability in the civilian sector, we have achieved increases in sales and operating profit for three consecutive quarters compared to the previous year." He added, "We will continue to sustain this growth going forward."
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