Hanwha Aerospace(012450) said in a filing on the 31st that, based on consolidation financial statements, it is estimated to have posted second-quarter revenue of 9.2929 trillion won and operating profit of 1.3655 trillion won this year. With global defense industry exports expanding, it achieved record results, including quarterly operating profit surpassing 1 trillion won for the first time.
According to the Financial Supervisory Service's electronic disclosure system, Hanwha Aerospace's revenue rose 47.2% from a year earlier and operating profit increased 58.5%. Net profit came to 1.0805 trillion won, up 277.5% from the same period a year earlier.
By business, the ground defense division recorded revenue of 2.1075 trillion won and operating profit of 533 billion won. Those figures were up 19% and 2%, respectively, from a year earlier. Mass-production programs such as the wheeled anti-aircraft gun Cheonho were delivered as scheduled, and overseas projects, including deliveries to Poland and Egypt, progressed smoothly, driving the improvement. The order backlog in ground defense stood at 38.3 trillion won as of the second quarter.
The aerospace division is also maintaining its improvement trend. Second-quarter revenue was 760 billion won and operating profit was 37 billion won. Helped by increased military volumes, revenue rose 17% and operating profit increased 4.9%, returning to the black.
Hanwha Ocean(042660) posted revenue of 5.4432 trillion won and operating profit of 736.1 billion won as the share of high-margin merchant ships such as liquefied natural gas (LNG) carriers increased. Those figures were up 65% and 98%, respectively, from a year earlier. Hanwha Systems(272210), reflecting increased supply of multifunction radars, recorded revenue of 1.1176 trillion won and operating profit of 103.7 billion won.
A Hanwha Aerospace official said, "In the second half, we will continue results based on mass production of the second execution contract volume of K9 self-propelled howitzers for Poland and deliveries of K9 self-propelled howitzers to Egypt and Australia," adding, "We will also actively participate in advanced aircraft engine development to further enhance export competitiveness in the aviation industry."