The Korea Aerospace Industries (KAI) is showing strong performance due to the expansion of defense exports and the recovery of COVID-19.
KAI said on Feb. 14 that it achieved provisional annual sales of 2.7869 trillion won, operating profit of 141.6 billion won and orders of 8.74 trillion won in 2022.
Sales rose 8.8 percent from 2.5623 trillion won in 2021, and operating profit rose 143 percent from 58.3 billion won a year earlier. In particular, orders increased by 208%, compared to KRW 2.8353 trillion in the previous year.
Domestic businesses such as the development of KF-21 and the 4th Surion and mass production and delivery of landing-driven helicopters and the gas parts business, which had been contracted by Corona, showed positive performance due to sales growth.
Operating profit is analyzed as a factor in improving profit margins due to the mass production of Surion and the increase in volume of gas parts businesses with good profit margins, and the increase in average exchange rates and unit prices.
The backlog of orders is 24.6 trillion won, the highest ever since its foundation. In addition to the domestic business, which achieved KRW 1.4726 trillion, orders were centered on overseas orders such as Polish exports and gas parts business orders.
Meanwhile, sales in the fourth quarter of last year rose 9% year-on-year to 868.8 billion won and operating profit rose 388% to 37.5 billion won, turning into a surplus year-on-year. It achieved 4.8825 trillion won (219% ↑) in orders.
KAI forecast sales of 3.8253 trillion won and orders of 4.4769 trillion won this year. Sales grew 37.3% year-on-year.
In addition to the development of KF-21, the development of the landing attack helicopter and Sohae helicopter system signed in 2022 will be promoted, and 12 of the 48 FA-50 units exported last year will be delivered this year.
A KAI official said, "We will make this year the first year toward the goal of achieving 40 trillion won in sales by 2050."
