Motion & Control defense specialist M&C Solution (CEO Kim Byung-geun) announced its 2024 performance through a preliminary earnings disclosure on the 12th.
According to the performance report released by M&C Solution (hereinafter the company), sales in 2024 reached 282.8 billion KRW, marking a significant 56.3% increase compared to the previous year (180.9 billion KRW). During the same period, operating profit and net profit were 34.5 billion KRW and 27.0 billion KRW respectively, up 60.5% and 71.4% from the previous year (21.5 billion KRW and 15.7 billion KRW), achieving record-high results.
Additionally, fourth-quarter sales amounted to 94.3 billion KRW, a 21.4% increase from the same period last year (77.7 billion KRW). Operating profit and net profit for the quarter were 17.6 billion KRW and 13.6 billion KRW, up 51.8% and 15.9% respectively from the previous year’s fourth quarter (11.6 billion KRW and 11.7 billion KRW).
The strong performance is attributed to ▲ robust exports of the K9 self-propelled howitzer and K2 tank ▲ increased sales from government national projects.
The company is expanding its defense business across various fields including ground, guided, aerospace, and maritime sectors, based on its unique hydraulic technology, and continues to broaden its business scope.
Recently, the global defense market has seen a boom in ‘K-Defense,’ coinciding with countries’ efforts to strengthen autonomous defense capabilities, leading to active exports of the K9 self-propelled howitzer and K2 tank. Consequently, demand for core products supplied by M&C Solution?such as the K9 and K2 gun and turret drive units, suspension systems, Cheonmu and Cheongung missile launcher hydraulic systems, and servo valves?has increased, serving as a key factor in the company’s performance growth.
In particular, the expansion of exports of K-Defense self-propelled howitzers and tanks positively impacts companies supplying essential components, directly benefiting M&C Solution. Building on this, the company is further strengthening its position in the defense parts market and anticipates additional growth driven by expanding global defense demand.
Moreover, the company continues active investment and development activities to enhance its research and development (R&D) capabilities, efforts that have translated into performance growth. Currently, the company is conducting joint R&D linked to government national projects to develop equipment and hydraulic pumps installed in ground, aerospace, and maritime weapon systems.
As the project has recently gained momentum, sales recognition of some developed products has positively influenced performance growth. It is expected that once R&D outcomes from national projects enter the commercialization phase, additional sales can be secured. The company plans to leverage this to further strengthen its competitiveness in next-generation defense technologies.
Kim Byung-geun, CEO of M&C Solution, stated, “We believe that our advanced defense technology and mass production capabilities have been proven alongside the growth of K-Defense,” adding, “We will continue to actively pursue future businesses such as direct overseas exports, MRO (maintenance, repair, and operations) direct exports, space and aerospace sectors, and civilian market development to establish ourselves as a leading company in the global defense market.”
Meanwhile, the company expanded its core business in January by supplying servo valves for the Turkish Altay tank. Additionally, it has announced a series of positive developments to the market, including recently signing an MOU with LIG Nex1 for maritime weapon system development, laying a foundation for long-term growth.
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