LIG Nex1 announced on the 13th that, based on consolidation financial statements, last year's revenue came to 4.3069 trillion won and operating profit was 322.9 billion won. Both revenue and operating profit rose 31.5% and 44.5%, respectively, from a year earlier.
LIG Nex1's operating profit in the fourth quarter of last year was 42.1 billion won, down 23.8% from the same period a year earlier. Revenue was 1.4048 trillion won, up 20.3%. Net loss was 26 billion won, shifting to a loss.
LIG Nex1 cited exports of the Cheongung-II multiple launch rocket system to the United Arab Emirates (UAE) as a reason for improved results. Overseas sales accounted for 21.5% of LIG Nex1's revenue last year. Sales from another mass-production guided weapons program also had an impact, and revenue in the command-and-control and avionics sectors increased due to mass production of the next-generation military radio (TMMR).
A LIG Nex1 official said, "As recognition of results from Middle East exports, including to the UAE, gets into full swing, the outlook for further improvement has strengthened," adding, "We will reinforce the foundation for sustainable growth through execution of domestic programs and orders for overseas projects."
Marking its 50th anniversary, LIG Nex1 is pushing to change its name to LIG Defense&Aerospace (LIG D&A). Building on its 50-year history, the company plans to lead the future defense paradigm based on space, aviation, and unmanned systems.