Korea Aerospace Industries Posts Operating Profit of 141.6 Billion KRW Last Year

143.1% Increase Compared to Last Year... Expansion of Gas Component Business

[Asia Economy Yang Nak-gyu, Military Specialist Reporter] Korea Aerospace Industries (KAI) saw a significant increase in sales and operating profit last year compared to the previous year. This appears to be due to the expansion of the airframe parts business.

[Image source=Yonhap News]

KAI announced on the 14th that it recorded sales of 2.7869 trillion KRW, operating profit of 141.6 billion KRW, and orders of 8.7444 trillion KRW last year. Compared to 2021, sales increased by 8.8%, and operating profit surged by 143%. During the same period, orders expanded by 208%, driving the performance.

KAI's order backlog stands at 24.6 trillion KRW, the largest in the company's history. Orders were mainly from overseas, including exports to Poland and orders for airframe parts business, in addition to domestic projects that achieved 1.4726 trillion KRW.

KAI forecasts sales of 3.8253 trillion KRW and orders of 4.4769 trillion KRW this year. In addition to the KF-21 development, the amphibious attack helicopter and mine countermeasure helicopter system development contracts signed in 2022 will be actively pursued, and 12 out of 48 FA-50 aircraft exported to Poland last year are scheduled for delivery this year.

A KAI official said, "Sales have returned to a normal track as domestic projects such as KF-21 development, Surion 4th batch and amphibious maneuver helicopter mass production and delivery, as well as the airframe parts business, which had been contracted due to COVID-19, have improved." He added, "The increase in Surion mass production and the volume of the airframe parts business with favorable profit margins are analyzed as factors for improving profitability."