Hanwha Aerospace Q3 operating profit falls 46% year on year

Hanwha Aerospace reported Q3 revenue of 6.09 trillion won (down 6% YoY) and operating profit of 452 billion won (down 46%). The decline is attributed to K9 howitzer deliveries to Poland shifting to Q4 and some volumes shipped early in Q2.

• Q3 revenue was 6.09 trillion won; operating profit 452 billion won
• Ground systems backlog stands at about 35 trillion won
• Croatia deal covers 18 Chunmoo systems for €410 million
• Hanwha Systems revenue rose 30% to 831.6 billion won, profit 60% to 99.1 billion won