Kencoa Aerospace (274090) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue rose to KRW83.75bn from KRW56.24bn YoY; operating income turned positive at KRW2.23bn, while net loss narrowed to KRW2.29bn from KRW5.76bn.

• Q3 revenue was KRW26.05bn, operating income KRW0.83bn and net loss KRW3.57bn.

Financial highlights

• 9M gross profit was KRW12.72bn vs KRW3.64bn YoY; SG&A rose to KRW10.48bn from KRW9.64bn.

• 9M consolidated operating cash flow was KRW8.36bn vs outflow of KRW3.38bn; cash and equivalents ended at KRW20.28bn vs KRW24.27bn at FY2025-end.

• Total assets were KRW226.56bn, liabilities KRW66.08bn and equity KRW160.48bn at Sep. 30, 2026.

Segment performance

• 9M revenue mix: U.S. civil/defense aircraft and launch-vehicle products KRW41.08bn (49%); space/aerospace materials KRW21.06bn (25%); MRO KRW12.99bn (16%); domestic aircraft products KRW8.62bn (10%).

• Geographic revenue was KRW45.51bn U.S., KRW12.46bn Brazil, KRW11.62bn domestic, KRW11.27bn Singapore and KRW2.88bn other countries.

• Direct overseas sales represented 86.1% of 9M revenue; domestic direct sales were 13.9%.