Hanwha Aerospace Q2 Operating Profit Surges 156% Year-on-Year to 864.4 Billion KRW

Sales Up 169%, Operating Profit Up 156% Year-on-Year
"Early Chunmoo Deliveries and Stable Growth of Hanwha Ocean"

Hanwha Aerospace achieved its highest-ever second-quarter performance, driven by expanded exports in the ground defense sector and an increased proportion of high-margin ship sales by its subsidiary Hanwha Ocean.

Hanwha Building located in Jung-gu, Seoul. Hanwha

On July 31, Hanwha Aerospace announced that its consolidated sales for the second quarter of this year reached 6.2735 trillion KRW, with operating profit at 864.4 billion KRW, representing increases of 169% and 156%, respectively, compared to the same period last year.

By business segment, the ground defense sector recorded sales of 1.7732 trillion KRW and operating profit of 554.3 billion KRW, up 33% and 113%, respectively, from the same period last year. In particular, rapid overseas deliveries of the Chunmoo multiple rocket launcher resulted in overseas sales of 1.0834 trillion KRW, a 43% increase year-on-year. The aerospace business saw sales rise by 20% to 648.9 billion KRW compared to the previous year, but it turned to a loss.

The subsidiary Hanwha Ocean achieved sales of 3.2941 trillion KRW and operating profit of 371.7 billion KRW, as sales of high-margin liquefied natural gas (LNG) carriers in the merchant ship business expanded. Hanwha Systems recorded sales of 768.2 billion KRW and operating profit of 33.5 billion KRW.

A Hanwha Aerospace representative stated, "In the second quarter, we maintained solid growth thanks to strong results in the ground defense sector and stable performance from Hanwha Ocean. In the second half of the year, we plan to expand orders, particularly in the Middle East and Europe, and secure new future growth engines through the successful fourth launch of the Nuriho rocket."