Hanwha Aerospace stock swings to Q3 loss as deliveries slip
Published on 10/30/2026 at 00:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSQuarterly results and delivery outlook
- Hanwha Aerospace posted a net loss of KRW 36.7 billion for the July-September period.
- Poland-bound K9 deliveries were postponed to the fourth quarter, while the order backlog stood at KRW 35 trillion at the end of September.
- The company expects earnings to recover as K9 and Chunmoo deliveries to Poland advance.
Hanwha Aerospace reported a sharp deterioration in third-quarter earnings on October 29, with delayed weapons deliveries and one-off costs weighing on results. Yonhap reported that the South Korean defense contractor swung to a net loss for the July-September period.
Delivery timing weighs on results
Hanwha Aerospace recorded a net loss of KRW 36.7 billion, compared with a profit of KRW 699 billion a year earlier. Revenue declined 6 percent to KRW 6.09 trillion, while operating profit fell 46.2 percent year on year to KRW 452 billion.
The company linked part of the weaker performance to the postponement of K9 self-propelled howitzer deliveries to Poland until the fourth quarter. Some weapons deliveries had already been completed ahead of schedule in the second quarter, creating an unfavorable comparison for the latest reporting period.
Backlog supports medium-term visibility
The ground defense division generated revenue of KRW 1.24 trillion and operating profit of KRW 21.7 billion. Its order backlog stood at KRW 35 trillion at the end of September, according to Yonhap.
The aerospace division reported revenue of KRW 659.9 billion and an operating loss of KRW 2.4 billion. Higher deliveries of geared turbofan engines increased losses under the risk- and revenue-sharing partnership program with Pratt & Whitney.
Fourth-quarter execution is key
Hanwha Aerospace expects earnings to recover in the fourth quarter as deliveries of K9 howitzers and Chunmoo multiple rocket launchers to Poland progress. The company also pointed to further progress on K9 projects in Egypt and Australia.
Hanwha Aerospace at a glance
- Company: Hanwha Aerospace
- ISIN: KR7012450003
- Reporting period: Third quarter, July to September 2026
- Revenue: KRW 6.09 trillion
- Operating profit: KRW 452 billion
- Net result: Loss of KRW 36.7 billion
- Ground defense order backlog: KRW 35 trillion at the end of September
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