Kencoa Aerospace (A274090) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 was ₩38.5 billion, down 55% year-over-year from ₩86.2 billion in H1 2024.

• Operating loss for H1 2025 was ₩1.7 billion, compared to a loss of ₩5.4 billion in H1 2024.

• Net loss for H1 2025 was ₩2.9 billion, narrowing from a net loss of ₩7.7 billion in H1 2024.

• The company remains listed on KOSDAQ and maintains its status as a mid-sized enterprise.

Financial highlights

• Gross margin for H1 2025 was ₩4.3 billion, down from ₩4.3 billion in H1 2024.

• SG&A expenses for H1 2025 were ₩6.0 billion, up from ₩5.4 billion in H1 2024.

• Cash and cash equivalents at June 30, 2025, were ₩34.9 billion, down from ₩159.0 billion at year-end 2024.

• Total assets at June 30, 2025, were ₩242.8 billion, down from ₩253.1 billion at year-end 2024.

• Total liabilities at June 30, 2025, were ₩68.9 billion, slightly down from ₩69.7 billion at year-end 2024.

Outlook and guidance

• The company is expanding production capacity at its main and second plants in Korea and considering expansion in the US due to strong order growth.

• Focus remains on global supply chain diversification and new business development in aerospace and UAM.