Korea Aerospace Industries (047810) Q4 2024 earnings summary

Executive summary

• Achieved KRW 4.9tn in new orders and KRW 3.6tn in revenue for 2024, with a backlog of KRW 24.7tn.

• Operating profit reached KRW 240.7bn, with net income at KRW 170.9bn for 2024.

• Significant growth in export orders and continued strength in domestic and aerostructure segments.

Financial highlights

• Revenue for 2024 was KRW 3,633.7bn, down from KRW 3,819.3bn in 2023.

• Operating profit for 2024 was KRW 240.7bn, with a margin of 6.62%.

• Net income for 2024 was KRW 170.9bn, representing a 4.7% net margin.

• Total assets at year-end 2024 were KRW 8,018.6bn, with liabilities of KRW 6,291.4bn.

Outlook and guidance

• 2025 order guidance is KRW 8.5tn, a 72.6% increase year-over-year.

• 2025 revenue guidance is KRW 4.1tn, up 13.6% from 2024.

• Export of finished aircraft expected to rise 115.3% in revenue and 1,900.1% in orders year-over-year.