Korea Aerospace Industries (KAI) reported double-digit growth in both revenue and operating profit for the third quarter of this year, driven by the production of the KF-21 fighter jet and increased exports of the FA-50.
On November 3, KAI announced that its consolidated revenue for the third quarter reached 1.0643 trillion won, with an operating profit of 79.4 billion won. Revenue increased by 51.6% compared to the same period last year, while operating profit rose by 31.9%. The operating profit margin improved to 7.5%, up from 6.1% in the first quarter and 4.1% in the second quarter, reflecting the transition of key domestic and international development projects into the production phase and the commencement of deliveries of completed aircraft.
Domestic sales surged by 83% year-on-year to 493.7 billion won, bolstered by deliveries of fixed-wing aircraft such as the KF-21 and FA-50GF, which began in September. Development projects for rotary-wing aircraft, including the Marine Attack Helicopter (MAH) and Mine-Countermeasure Helicopter (MCH), also contributed to the revenue increase. Deliveries of the Light Armed Helicopter (LAH) have faced delays due to engine supply issues, but are expected to resume in the fourth quarter.
Export revenue from completed aircraft reached 291.4 billion won, marking a 78% increase from the same period last year. This growth reflects ongoing international projects, including the FA-50M for Malaysia, FA-50PL for Poland, FA-50PH for the Philippines, and KT-1B for Indonesia. Revenue from the commercial aircraft structure business, which supplies airframe structures to international manufacturers, totaled 262.8 billion won, a 7% increase year-on-year. Together, completed aircraft exports and commercial aircraft structure exports accounted for 53% of total revenue.
As of the end of the third quarter, KAI's order backlog stood at 26.2855 trillion won. The company aims to surpass 5 trillion won in annual revenue in the fourth quarter, supported by expanded deliveries of the KF-21, the resumption of LAH deliveries, and the ongoing FA-50M deliveries to Malaysia.
A KAI official stated, "The third quarter saw double-digit growth in both revenue and operating profit compared to the previous year, driven by strong exports of completed aircraft and the transition of development projects into production."
* This article has been translated by AI.
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