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Electronic Technology

Korea Aerospace Industries Ltd.

  • 45,700.00 KRW
  • +500.00
  • +1.11%
  • South Korea
    Apr 20, 2018
  • Ticker
    KRX(047810)
  • Prev. close
    45,200
  • Market cap (KRW)
    4,405.87B
  • Market cap (USD)
    4,128.25M
  • 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-si, South Korea.

Financial Highlights

Dec 2017 KRWUSD
Revenue2,072.24B1,833.02M
Gross Profit127,394.23M112.68M
Operating income-208,873.25M-184.76M
Income before tax-320,282.33M-283.30M
Net income-235,185.85M-208.03M
EBITDA-125,229.83M-110.77M
Diluted EPS-2,413-2.13
Dividends Per Share6800.60
Total Assets3,172.55B2,963.47M
Total liabilities2,032.14B1,898.22M
Total equity1,140.40B1,065.25M
Operating cash flow104,641.67M92.56M
Currency in KRWCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 2,016.33B 2,314.88B 2,901.03B 2,946.33B 2,072.24B
Gross Profit 309,948.60M 372,858.62M 525,881.75M 588,986.12M 127,394.23M
Operating income 124,565.14M 161,252.00M 285,655.29M 320,092.40M -208,873.25M
Income before tax 92,694.96M 140,519.59M 239,238.51M 317,133.75M -320,282.33M
Net income 90,082.82M 111,109.11M 180,565.55M 264,801.08M -235,185.85M
EBITDA 203,367.72M 250,018.73M 380,579.54M 424,399.78M -125,229.83M
Diluted EPS 924 1,140 1,852 2,717 -2,413
Dividends Per Share 200 250 400 680 680
Total Assets 1,984.57B 2,115.04B 2,726.11B 2,992.14B 3,172.55B
Total liabilities 1,023.01B 1,078.31B 1,554.25B 1,546.57B 2,032.14B
Total equity 961,489.29M 1,036.73B 1,171.85B 1,445.57B 1,140.40B
Operating cash flow 201,500.39M -113,482.64M 59,851.87M 145,284.89M 104,641.67M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 1,841.80M 2,199.08M 2,563.19M 2,539.52M 1,833.02M
Gross Profit 283.11M 354.20M 464.64M 507.66M 112.68M
Operating income 113.78M 153.18M 252.38M 275.89M -184.76M
Income before tax 84.67M 133.49M 211.37M 273.34M -283.30M
Net income 82.28M 105.55M 159.53M 228.23M -208.03M
EBITDA 185.76M 237.51M 336.25M 365.80M -110.77M
Diluted EPS 0.84 1.08 1.63 2.34 -2.13
Dividends Per Share 0.18 0.23 0.35 0.58 0.60
Total Assets 1,880.49M 1,924.25M 2,324.94M 2,477.35M 2,963.47M
Total liabilities 969.35M 981.04M 1,325.53M 1,280.48M 1,898.22M
Total equity 911.06M 943.21M 999.40M 1,196.86M 1,065.25M
Operating cash flow 184.05M -107.80M 52.88M 125.22M 92.56M

Valuation Measures

Dec 2017
PER--
ROA-7.63%
ROE-18.18%
Operating margin-10.07%
Profit margin-11.34%

Key executives

  • Chief Executive Officer & Director: Jo-Won Kim
  • Managing Director, Head-Finance & Economy: Geol-Taek Shim
  • Vice President & Head-Overseas Business Division: In-Sik Kim
  • Executive Director: Dong-Shin Lee
  • Managing Director: Sang-Youl Choi

Shareholders

  • Government of South Korea (26.7%)
  • National Pension Service of Korea (7.0%)
  • Hanwha Techwin Co., Ltd. (5.9%)
  • BlackRock Asset Management North Asia Ltd. (2.2%)
  • BlackRock Fund Advisors (1.6%)
  • The Vanguard Group, Inc. (1.6%)
  • Korea Aerospace Industries Ltd. ESOA (1.5%)
  • Samsung Asset Management Co., Ltd. (0.7%)
  • APG Asset Management NV (0.7%)
  • Morgan Stanley Investment Management, Inc. (0.5%)

Contact Details

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

Related Companies

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

Competitors

  • Embraer S.A.
  • Boeing Company
  • Leonardo SpA
  • Airbus SE
  • BAE Systems plc
  • Lockheed Martin Corporation
  • Mitsubishi Heavy Industries, Ltd.
  • Bombardier Inc. Class B
  • Dassault Aviation SA
  • LIG Nex1 Co., Ltd.
  • Jiangxi Hongdu Aviation Industry Co., Ltd. Class A
  • Firstec Co., Ltd
  • AeroSpace Technology of Korea, Inc.
  • Korea Petro Chemical Ind. Co., Ltd.
Last Updated on 20 Apr, 2018

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