Hanwha Systems Reports Q2 Revenue of 1.12 Trillion Won, Up 45% YoY

According to Yonhap Infomax on July 28, Hanwha Systems reported Q2 consolidated revenue of 1.1176 trillion Korean won and operating profit of 103.7 billion won, representing year-over-year increases of 45% and 219%, respectively. The results exceeded consensus estimates of 942.9 billion won in revenue and 57.9 billion won in profit. Defense segment revenue reached 700.6 billion won with operating profit of 103.7 billion won, driven by major export contracts including fire control systems for Polish K2 tanks and multifunction radars for UAE and Saudi Arabia.
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