Overview
- Net profit rose to 712.2 billion won, up 123.8% year over year, with operating profit at 856.4 billion won on sales of about 6.48 trillion won, beating analyst estimates.
- Land systems led results with 2.11 trillion won in sales and 572.6 billion won in operating profit, while the aerospace division posted 604 billion won in sales on stronger aftermarket services.
- Subsidiaries contributed materially, including Hanwha Ocean with 289.8 billion won in operating profit, alongside improved performance at Hanwha Systems.
- The order backlog stands at 31 trillion won with roughly 70% from overseas contracts, supporting four to five years of production visibility and an outlook for continued improvement through 2029.
- Overseas expansion plans include a Romania production facility tied to a 1.4 trillion won K9/K10 deal slated to start construction as early as late 2025, plus initial site selection for potential ammunition plants in the United States and Europe.