KAI, 2·4quarterly revenue rises but profit plunges
Korea Aerospace Industries (KAI) 2·4is expected to report a sharp decline in operating profit even as quarterly revenue increases. According to an analysis by Daishin Securities, this is due to the impact of delivery delays and higher cost burdens resulting from the depreciation of the won.
Korea Aerospace Industries (KAI) 2·4is facing a situation in which revenue growth and a sharp decline in operating profit are occurring simultaneously in its quarterly results, requiring investors to assess both short-term earnings fluctuations and the visibility of exports in the second half of the year.
Daishin Securities forecast KAI's 2·4quarter consolidated revenue to 25.0% year on year to 1trillion 250billion won.
The same analysis estimated that 2·4quarter operating profit would be 400billion won, 53.4% lower.
Daishin Securities explained that the decline in operating profit reflected delays in deliveries of light armed helicopters (LAH) and increased cost pressures resulting from the depreciation of the won.
Daishin Securities said that 2·4in the quarter, FA-50 export sales accounted for 46.1% of total revenue.
This was 1·4higher than the export share of 35.9% in the quarter.
Daishin Securities assessed that business restructuring is accelerating in the second half of the year through the full-scale production of KF-21 and the microsatellite business, among other initiatives.
The report concluded that, despite a short-term pause in earnings, the mid- to long-term export and production roadmap is proceeding without disruption.
Sources: 파이낸셜뉴스 산업
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