Korea Aerospace Industries (KAI) reported that its operating profit for the second quarter of this year fell by 43.1% compared to the same period last year, due to delays in the delivery of light armed helicopters.
KAI announced on July 29 that its consolidated operating profit for Q2 was 48.4 billion won, while sales exceeded 1 trillion won, reaching 1.1679 trillion won, a 41% increase from the previous year. However, net profit dropped by 35.2% to 37 billion won. The significant decline in operating profit is attributed to delays in the delivery of the light armed helicopter (LAH) Miron, which has been halted since April due to a defect found in its engine.
Looking ahead, KAI anticipates a recovery in performance in the second half of the year. The mass production of the supersonic fighter KF-21 Boramae is set to begin, along with the sequential resumption of exports of the FA-50 to Malaysia and deliveries of the Miron.
A KAI official stated, "Key development projects, including the KF-21, mine-clearing helicopters, amphibious assault helicopters, and the Baekdu system, are progressing smoothly. We expect performance improvements in the second half of the year, driven by increased production and export volumes."
* This article has been translated by AI.
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