Hanwha Systems (272210) Q3 2024 earnings summary

Executive summary

• Revenue and operating profit increased year-over-year, driven by export projects in Defense and captive projects in ICT.

• Net profit declined significantly compared to the same quarter last year, despite higher revenue.

Financial highlights

• 3Q24 revenue was KRW 6,392Bn, up KRW 184Bn year-over-year.

• Operating profit reached KRW 570Bn, up KRW 173Bn year-over-year.

• Net profit was KRW 81Bn, down KRW 331Bn year-over-year.

• Operating profit margin improved to 8.9% from 6.4% a year ago.

• Net profit margin dropped to 1.3% from 6.6% year-over-year.

Outlook and guidance

• Future projections are subject to risks and uncertainties, and actual results may differ from current forecasts.