Hanwha Aerospace said on the 30th that, on a consolidation basis, it posted first-quarter revenue of 5.751 trillion won and operating profit of 638.9 billion won in a preliminary tally.
Revenue rose 4.9% from a year earlier, and operating profit increased 20.6%. Net profit was 182.9 billion won, up 187.5% from the same period a year earlier.
Revenue in the ground defense institutional sector was 1.2211 trillion won, up 5% from a year earlier. Operating profit was tallied at 208.7 billion won, down 31%.
In particular, the order backlog hit a record high of 39.7 trillion won as of the first quarter. The result reflects contracts such as the export to Norway of the Chunmoo multiple-launch guided rocket system in January (about 1.3 trillion won).
In the aerospace institutional sector, first-quarter revenue was 661.2 billion won and operating profit was 22.6 billion won. Compared with a year earlier, revenue increased 25%, and operating profit also rose 533%.
Hanwha Ocean posted revenue of 3.2099 trillion won and operating profit of 441.1 billion won. Compared with a year earlier, revenue increased 2% and operating profit rose 71%.
An increased share of high-value commercial ship projects such as LNG carriers, along with the effect of a weak won, reduced material costs, and efforts to improve productivity, contributed to better profitability.
A Hanwha Aerospace official said, "We maintained solid growth on the back of strong performances in the aerospace institutional sector and at Hanwha Ocean in the first quarter," adding, "We will continue to grow based on the largest-ever order backlog."