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Electronic Technology

Korea Aerospace Industries Ltd.

  • 35,150.00 KRW
  • -400.00
  • -1.13%
  • South Korea
    Jul 19, 2019
  • Ticker
    KRX(047810)
  • Prev. close
    35,550
  • Market cap (KRW)
    3,465.24B
  • Market cap (USD)
    2,950.39M
  • Shares
    97.47M

Company Background

Korea Aerospace Industries is South Korea's sole aircraft maker. It was founded in 1999 under the leadership of the South Korean government, with three conglomerates -- Samsung, Hyundai and Daewoo -- contributing their aerospace expertise. Its leading shareholder is Korea Development Bank, an institution wholly owned by the government.

Korea Aerospace's mainline product is the T-20 supersonic training aircraft, developed jointly with Lockheed Martin, a U.S. defense contractor. Mass production of the jet, which also doubles as a light attack aircraft, began in 2006. In addition to being supplied to the South Korean air force, the T-20 has also been shipped to Indonesia and Iraq.

Korea Aerospace also has a working relationship with Europe's Airbus Group. With the help of Airbus, the company in 2012 began selling the first South Korean-built helicopters.

In 2015, the company was awarded a contract to build the KF-X fighter, to be developed jointly with Indonesia, which is an investor in the 18 trillion won ($15.7 billion) project. Plans call for building 120 of the planes between 2025 and 2032. Korea Aerospace will have to pay a penalty if it falls behind schedule.

Opposition from Washington meant the company was unable to obtain the radar technology it wanted from Lockheed Martin, so it is developing the technology in-house. Some observers say that could impact the development schedule.

Business Summary

Korea Aerospace Industries Ltd. engages in the manufacture and sale of aircrafts. Its products include fixed wing, rotary wing, air frame, upgrade, modification, training system development, space program, and UAV. The company was founded on October 1, 1999 and is headquartered in Sacheon, South Korea.

Financial Highlights

Dec 2018 KRWUSD
Revenue2,786.02B2,531.55M
Gross Profit524,572.45M476.65M
Operating income145,363.63M132.08M
Income before tax79,660.49M72.38M
Net income57,188.11M51.96M
EBITDA237,906.20M216.17M
Diluted EPS5870.53
Dividends Per Share2000.18
Total Assets3,755.86B3,366.07M
Total liabilities2,702.95B2,422.43M
Total equity1,009.42B904.66M
Operating cash flow137,643.71M125.07M
Currency in KRWCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 2,314.88B 2,901.03B 2,946.33B 2,072.24B 2,786.02B
Gross Profit 372,858.62M 525,881.75M 588,986.12M 127,394.23M 524,572.45M
Operating income 161,252.00M 285,655.29M 320,092.40M -208,873.25M 145,363.63M
Income before tax 140,519.59M 239,238.51M 317,133.75M -320,282.33M 79,660.49M
Net income 111,109.11M 180,565.55M 264,801.08M -235,185.85M 57,188.11M
EBITDA 250,018.73M 380,579.54M 424,399.78M -125,229.83M 237,906.20M
Diluted EPS 1,140 1,852 2,717 -2,413 587
Dividends Per Share 250 400 680 680 200
Total Assets 2,115.04B 2,726.11B 2,992.14B 3,199.73B 3,755.86B
Total liabilities 1,078.31B 1,554.25B 1,546.57B 2,059.32B 2,702.95B
Total equity 1,036.73B 1,171.85B 1,445.57B 1,140.40B 1,009.42B
Operating cash flow -113,482.64M 59,851.87M 145,284.89M 104,641.67M 137,643.71M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 2,199.08M 2,563.19M 2,539.52M 1,833.02M 2,531.55M
Gross Profit 354.20M 464.64M 507.66M 112.68M 476.65M
Operating income 153.18M 252.38M 275.89M -184.76M 132.08M
Income before tax 133.49M 211.37M 273.34M -283.30M 72.38M
Net income 105.55M 159.53M 228.23M -208.03M 51.96M
EBITDA 237.51M 336.25M 365.80M -110.77M 216.17M
Diluted EPS 1.08 1.63 2.34 -2.13 0.53
Dividends Per Share 0.23 0.35 0.58 0.60 0.18
Total Assets 1,924.25M 2,324.94M 2,477.35M 2,988.86M 3,366.07M
Total liabilities 981.04M 1,325.53M 1,280.48M 1,923.61M 2,422.43M
Total equity 943.21M 999.40M 1,196.86M 1,065.25M 904.66M
Operating cash flow -107.80M 52.88M 125.22M 92.56M 125.07M

Valuation Measures

Dec 2018
PER54.34
ROA1.64%
ROE5.32%
Operating margin5.21%
Profit margin2.05%

Key executives

  • Chief Executive Officer & Director: Jo-Won Kim
  • Senior Managing Director & Head-Operations: Hyun-Dae Shin
  • Senior Managing Director: Sang-Youl Choi
  • Managing Director & Head-Human Resources: Myung-Hwan Lee

Shareholders

  • Government of South Korea (26.4%)
  • National Pension Service of Korea (5.3%)
  • BlackRock Fund Advisors (1.9%)
  • The Vanguard Group, Inc. (1.8%)
  • Korea Aerospace Industries Ltd. ESOA (1.5%)
  • Samsung Asset Management Co., Ltd. (0.8%)
  • BlackRock Japan Co., Ltd. (0.7%)
  • Mirae Asset Global Investments Co., Ltd. (0.5%)
  • BlackRock Advisors (UK) Ltd. (0.5%)
  • APG Asset Management NV (0.4%)

Contact Details

  • Website:http://www.koreaaero.com
  • Address: 78 Gongdan 1-ro, Sanam-myeon, Sacheon, 52529, South Korea
  • Phone: +82.55.851.1000

Related Companies

  • Taas Co. Ltd.
  • Korea Aerospace Industries Co.
  • Korea Aerospace Industries Ltd. ESOA
  • Korean Air Lines Co. Ltd. /Aerospace Division/

Competitors

  • Boeing Company
  • Airbus SE
  • Embraer S.A.
  • Leonardo SpA
  • Lockheed Martin Corporation
  • Textron Inc.
  • Bombardier Inc. Class B
  • Jiangxi Hongdu Aviation Industry Co., Ltd. Class A
  • LIG Nex1 Co., Ltd.
  • Firstec Co., Ltd
  • AeroSpace Technology of Korea, Inc.
Last Updated on 19 Jul, 2019

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