The company’s operating profit soared 190.2 percent year-over-year to 1.7 trillion won, while net profit climbed 160.5 percent to 2.5 trillion won, according to a regulatory filing on Tuesday.
Hanwha’s fourth-quarter performance remained strong, with operating profit reaching 892.5 billion won and revenue totaling 4.8 trillion won.
The surge was fueled by robust exports of its flagship K9 Thunder self-propelled howitzers and K239 Chunmoo rocket artillery systems, marking the first time overseas sales have outpaced domestic revenue.
A key driver of growth was a landmark agreement with Poland, which ordered 672 K9 Thunder howitzers and 288 K239 Chunmoo systems in July 2022. Deliveries are currently underway.
Industry sources report that Hanwha has already shipped 136 K9 Thunder howitzers and 72 K239 Chunmoo systems to Poland, with an additional 228 howitzers and 146 launchers set for delivery by 2026.
Expanding its global footprint, the company secured a 1.3 trillion won contract with Romania for 54 K9 Thunder howitzers, 36 K10 ammunition resupply vehicles, and associated munitions.
Hanwha is poised to finalize a 430 billion won deal with Vietnam for 20 K9 Thunder howitzers early this year.
“This performance reflects the materialization of our export contracts and steady domestic production,” a Hanwha Aerospace official said. “We will continue to enhance our global competitiveness to sustain export growth.”
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