Kencoa Aerospace (274090) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was ₩86.2 billion, down 5.5% year-over-year, with a net loss of ₩7.7 billion, deepening from the prior year’s loss.

• Operating loss reached ₩5.4 billion, reversing from an operating profit in 2023.

• The company’s capital structure improved, with total equity rising to ₩183.3 billion, and the debt ratio dropping to 38.05%.

• Major shareholder changed to Kepler Co., Ltd. in April 2024.

Financial highlights

• 2024 revenue: ₩86.2 billion (2023: ₩91.1 billion; 2022: ₩75.9 billion).

• Operating loss: ₩5.4 billion (2023: profit ₩0.9 billion; 2022: profit ₩8.0 billion).

• Net loss: ₩7.7 billion (2023: loss ₩1.8 billion; 2022: profit ₩3.2 billion).

• Basic EPS: -₩597 (2023: -₩146; 2022: ₩269).

• Cash and cash equivalents at year-end: ₩16.0 billion.

Outlook and guidance

• Ongoing expansion of production facilities in Korea and the US to support new business and increased orders, with completion targeted by 2025.

• Focus on global sales network expansion and diversification of customer base to reduce revenue volatility.