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[Alpha Biz=(Chicago) Reporter Kim Jisun] Korea Aerospace (KAI) was sluggish in the second quarter of this year, recording operating profit of less than 10 billion won. This is because investment costs are invested in future new growth businesses such as ultra-small satellites and provisions are reflected in the official helicopter business sector.
KAI expects a rebound in earnings in the second half of this year. An official from KAI said, "In the second half of the year, performance is expected to improve as the supply of finished machines such as FA-50 and Poland is expanded and the volume of TA-50 ILSs postponed in the first quarter is reflected."
KAI announced on the 7th that it recorded sales of 733.5 billion won in the second quarter of this year. This is a 29% increase from the previous year.
KAI's operating profit for the second quarter of this year is well below market forecasts. KAI's second-quarter operating profit, estimated by financial information provider FnGuide, was KRW 34.4 billion. However, sales were about 1.8 billion won higher than market forecasts.
KAI explained that investment costs were incurred in the new business sector, and provisions were partially reflected in the existing business sector. However, KAI did not elaborate on the scale of the day.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
