LIG Nex1 announced on the 7th that its operating profit for the second quarter of this year was 77.6 billion won, a 57.9% increase compared to the same period last year. Revenue rose to 945.4 billion won, an increase of 56.3% compared to the same period last year. During the same period, net profit increased by 120.3% to 100.6 billion won.
LIG Nex1 explained that the rise in performance was due to the commencement of mass production of the medium-range surface-to-air guided weapon 'Cheongung II' and the next-generation digital radio (TMMR·Tactical Multiband Multirole Radio). The order backlog increased by 581.4 billion won to 23.4665 trillion won compared to the previous quarter (22.8881 trillion won).
LIG Nex1 plans to increase investments in research and development infrastructure. In January of this year, it opened 'LIG Nex1 2 Pangyo House' equipped with state-of-the-art research and development and testing facilities on a site of 57,210 square meters (about 17,000 pyeong), and in June, it completed the close defense weapon system (CIWS-II) assembly building, close combat testing ground, and third radar system test site at the Gumi House in Gyeongbuk.
LIG Nex1 noted, "Efforts to export are also continuing, including the realization of the 'K-Air Defense Network' belt connecting North Africa, the Middle East, and Asia."