Korea Aerospace Industries (047810) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue reached KRW 699.3bn, down 5.5% year-over-year, with operating profit at KRW 46.8bn, a 2.5% decrease from Q1 2024.

• New orders totaled KRW 239.0bn, with a backlog of KRW 24.3tn across domestic, export, and aerostructure divisions.

• Net income for Q1 2025 was KRW 29.2bn, a 17.0% decline year-over-year.

Financial highlights

• Gross profit increased 23.1% year-over-year to KRW 120.3bn, while SG&A expenses rose 47.9% to KRW 73.5bn.

• Operating margin improved slightly to 6.69% from 6.49% in Q1 2024.

• Cash and cash equivalents surged to KRW 438.0bn, up 281.9% from December 2024.

• Debt to equity ratio increased to 411% from 365% at year-end 2024.

Outlook and guidance

• Management provided forward-looking statements, noting risks and uncertainties that may impact future results.