Hanwha Aerospace (Hanwha Aerospace) said on the 9th that, on a consolidation financial statement basis last year, it posted revenue of 26.6078 trillion won and operating profit of 3.0345 trillion won in a preliminary tally. That was up 136.7% and 75.2%, respectively, from a year earlier, marking the third straight year of record results for Hanwha Aerospace.
The ground defense institutional sector played a big role in Hanwha Aerospace's improved results. Last year's revenue in the ground defense institutional sector totaled 8.1331 trillion won. Revenue doubled from 2023. Operating profit came to 2.0129 trillion won, surpassing 2 trillion won for the first time ever.
The order backlog in the ground defense field (as of the end of last year) is about 37.2 trillion won. This came as export contracts were signed for the K9 self-propelled howitzer to Norway and the Cheonmu multiple-launch advanced guided missile system to Estonia. There are also domestic volumes such as mass production of the long-range surface-to-air guided weapon (L-SAM) and mass production of Cheongeom (air-to-ground guided missile for light armed helicopters).
The aerospace institutional sector is also continuing to grow. Last year's revenue in the aerospace institutional sector was 2.5131 trillion won, improving for the third straight year. Notably, it swung to a profit with 2.3 billion won in operating profit. Hanwha Aerospace said results improved as deliveries to Korea's military authorities increased.
Results from Hanwha Ocean, which has been consolidated as a subsidiary of Hanwha Aerospace since last year, were also included in Hanwha Aerospace's consolidation settlement of account. Hanwha Ocean posted annual revenue of 12.6884 trillion won and operating profit of 1.1091 trillion won.
A Hanwha Aerospace official said, "2025 is the first year of our leap as an integrated defense and shipbuilding and marine company," adding, "This year, based on our diversified product portfolio, we will pioneer the global market through sustainable growth."