LIG Defense & Aerospace’s 2023 second‑half performance announced by Shinhan Investment Securities attracted attention. Sales reached 1 trillion 110 billion won, and operating profit was 105 billion won, an increase of 17% and 30% respectively over the same period last year. This figure slightly surpassed the consensus estimate (average forecast for securities companies) of 110 billion won released in the same period.
The cause of the lower second‑half performance lies partly in the fact that first‑quarter sales were below expectations due to lower material supply than anticipated. Researcher Lee Dong-hun explained, “Material supplies in the Middle East region declined, resulting in overall weaker performance,” and added that LIG Defense & Aerospace’s export potential is high in the long term.
Expansion of cooperation with Europe and Asia is expected to contribute to growth in exports. The researcher noted, “With strong demand from overseas markets and expansion of the export pipeline, we have secured long‑term growth prospects.”
LIG Defense & Aerospace experiences large volatility in second‑half performance and its growth rate is modest, but it is expected to grow in the long term thanks to rich product portfolio and export pipeline expansion. The company expects continued sales growth, saying that while there may be fluctuations at the time of supply, “sales will continue to rise.”