Kencoa Aerospace (274090) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 was ₩66.97 billion, down from ₩91.14 billion year-over-year, with an operating loss of ₩1.18 billion and a net loss of ₩1.77 billion.

• The company operates in aerospace, focusing on aircraft parts, MRO, raw material supply, and space launch components, with a global footprint including subsidiaries in the US.

• In April 2024, the largest shareholder changed to Kepler Co., acquiring a 27.48% stake.

Financial highlights

• Revenue for Q3 2024 was ₩66.97 billion, a 26.5% decrease year-over-year.

• Operating loss for the period was ₩1.18 billion, compared to an operating profit of ₩877 million last year.

• Net loss for the period was ₩1.77 billion, compared to a net loss of ₩1.85 billion in the prior year.

• Total assets increased to ₩261.9 billion from ₩149.9 billion at the end of 2023.

• Equity capital rose sharply to ₩184.4 billion, mainly due to new capital securities issuance.

Outlook and guidance

• The company is expanding production capacity at its main and second plants to meet increasing order volumes, with completion targeted for Q1 2025.

• Plans to leverage global network and cost competitiveness for further order growth, focusing on quality and delivery reliability.