Kencoa Aerospace (A274090) Q2 2024 earnings summary

Executive summary

• Specializes in aerospace and defense, focusing on aircraft parts, MRO, and space launch vehicle components.

• Operates globally with manufacturing bases in Korea and the US, serving major OEMs and defense contractors.

• Listed on KOSDAQ since 2020, recently underwent a major shareholder change to Kepler Co., Ltd.

Financial highlights

• 2024 H1 consolidated revenue: ₩43.6B, down from ₩91.1B in 2023 H1.

• Operating loss for 2024 H1: ₩1.44B, compared to a profit of ₩877M in 2023 H1.

• Net loss for 2024 H1: ₩1.5B, compared to a net loss of ₩1.85B in 2023 H1.

• Separate (parent) company net loss for 2024 H1: ₩3.42B.

• Cash and cash equivalents at 2024 H1: ₩12.7B.

Outlook and guidance

• Plans to expand production capacity in both main and secondary plants in Korea to meet increasing orders.

• Focus on securing new business in PTF conversion and space launch vehicle parts.