Hanwha Systems Posts Q2 Operating Profit of 103.7 Billion Won, Up 219% on Defense Exports

Hanwha Systems announced today (July 28) that its consolidated operating profit for the second quarter of this year reached 103.7 billion won, marking a 219% increase compared to the same period last year.

Revenue rose 45% year-on-year to 1.1176 trillion won.

Net profit increased by 14% to 52.7 billion won.

Driven by large-scale defense export projects, the defense business posted a 49% increase in revenue to 700.6 billion won and a 98% surge in operating profit to 103.7 billion won.

Hanwha Systems exports items such as sights and fire control systems for Poland's K2 tanks, as well as Cheongung-II (M-SAM II) multi-function radars (MFR) to the United Arab Emirates (UAE) and Saudi Arabia.

Information and Communications Technology (ICT) division revenue grew 27% to 187.3 billion won.

Operating profit for the ICT division jumped 93% to 20.8 billion won.

Revenue from other sectors increased 52% to 229.7 billion won, driven by sales from Hanwha Philly Shipyard.

Operating loss for this sector stood at 20.8 billion won.

The order backlog stood at 11.2959 trillion won as of the second quarter of this year.

An official from Hanwha Systems stated, "We will firmly build a foundation for sustainable growth through overseas market expansion and the reinforcement of our core technological capabilities."

(Photo provided by Hanwha Systems, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.