The defense electronics and ICT company posted 1.12 trillion won ($7.7 billion) in consolidated sales for the April-June period, up 45 percent from a year earlier. Operating profit surged 219 percent on-year to 103.7 billion won.
Net profit rose 14 percent to 52.7 billion won.
Hanwha Systems said its defense business was supported by large export programs, including sighting systems and fire control systems for Poland’s K2 tanks and multifunction radar systems for Cheongung-II missile defense systems exported to the United Arab Emirates and Saudi Arabia.
Domestic defense programs also contributed to the strong earnings. They included combat management systems for the Ulsan-class Batch-III frigates, AESA radar and avionics equipment for the KF-21 fighter jet, and the fourth round of mass production of sighting and fire control systems for South Korea’s K2 tanks.
Its ICT business also posted stable results, backed by technology projects across Hanwha affiliates. Major projects included a core IT system upgrade for Hanwha Life, an ERP platform for Hanwha Philly Shipyard and smart factory systems for Hanwha Aerospace.
Hanwha Systems said its order backlog stood at 11.3 trillion won as of the second quarter.
The company said it plans to continue expanding its export portfolio while securing major domestic projects.
“Stable revenue from large export programs and major domestic production contracts drove the improvement in earnings,” a Hanwha Systems official said. “We will build a stronger foundation for sustainable growth by expanding overseas markets and strengthening technology capabilities.”
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