Hanwha Systems (272210) Q2 2024 earnings summary

Executive summary

• Revenue and operating profit rose year-over-year, driven by export programs in Defense and increased ICT sales to affiliates and external clients.

• Major contracts signed for AESA radar production, joint radar development, and international defense supply.

Financial highlights

• 2Q24 revenue: KRW 6,873Bn, up KRW 766Bn YoY and KRW 1,429Bn QoQ.

• Operating profit: KRW 798Bn, up KRW 499Bn YoY and KRW 405Bn QoQ.

• Net profit: KRW 271Bn, down KRW 476Bn YoY and KRW 232Bn QoQ.

• Operating margin: 11.6% (up 6.7% YoY); net margin: 3.9% (down 8.3% YoY).

Outlook and guidance

• Future projections are subject to market conditions and internal/external uncertainties.