Seoul [South Korea], November 3 (ANI): Hanwha Aerospace Co. reported a third-quarter operating profit of 856.4 billion won (USD 630 million), marking a 79.5 per cent increase from a year earlier and its highest-ever third-quarter performance, according to Pulse, the English service of Maeil Business News Korea.
In a regulatory filing on Monday, the company said revenue rose 146.5 per cent year-on-year to 6.48 trillion won (approximately USD 4.54 billion), while net profit surged 123.8 per cent to 712.2 billion won (approximately USD 512.78 million). Hanwha Aerospace attributed the robust results to strong performance in its defence division and steady growth at its subsidiary Hanwha Ocean.
By business segment, the defence division posted revenue of 2.1 trillion won (USD 1.51 billion) and an operating profit of 502.6 billion won (USD 361.87 million), representing increases of 27 per cent and 30 per cent, respectively, compared to the same period last year. Domestic sales rose 33 per cent to 912.9 billion won (USD 657.29 million), driven by higher demand for chemical, biological, and radiological (CBR) reconnaissance vehicles and wheeled anti-aircraft guns.
The aerospace division recorded a 26 per cent year-on-year revenue increase to 604 billion won (USD 434.88 million), supported by growing demand for engine parts and aftermarket services. The segment also swung to a profit of 3.1 billion won (USD 2.23 million) from a loss in the previous year.
Hanwha Ocean, a key subsidiary, achieved 3.02 trillion won (USD 2.17 billion) in sales, up 11.8 per cent, along with a tenfold rise in operating profit to 289.8 billion won (USD 208.66 million). The company attributed this growth to robust sales of high-value ships, including LNG carriers and special-purpose vessels. (ANI)
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