Hanwha Systems (272210)
Hanwha Systems (272210) is the defense-electronics and ICT arm of South Korea’s Hanwha Group, listed on the KOSPI. It builds the multi-function radars, electro-optical sensors, naval combat systems, and satellite payloads that sit inside Korean defense platforms. In ETFpedia it represents the Korea defense concept as the country’s combat-electronics specialist.
| Ticker | 272210 |
|---|---|
| Exchange | KOSPI |
| Sector | Defense · Electronics, Radar & Naval Combat Systems |
| Country | South Korea |
| Wikidata | Q16166298 |
| Last updated | 2026-06-04 |
Next event:Next report · H1 2026 반기보고서 (semi-annual report), estimated · Estimated from Korea's 45-day semi-annual filing deadline; not company-confirmed. Korean issuers do not pre-announce earnings dates. Last report: Q1 2026 분기보고서 filed 2026-05-13. (source)
Latest reported quarter:Q1 2026 (ended Mar 31, 2026) (reported2026-05-13)
Hanwha Systems grew Q1 2026 revenue 17% year over year to ₩8,071억 (about KRW 807.1 billion), but operating profit fell 41% to ₩343억 and the company posted a net loss of ₩958억, swinging from a year-earlier net profit, on non-operating and valuation items.
| Revenue | ₩8,071억+17%YoY · About KRW 807.1 billion |
|---|---|
| Operating profit | ₩343억-41%YoY |
| Net income | ₩-958억-334%YoY · Net loss vs ₩410억 profit a year earlier |
Revenue by segment
| Defense (radar, sensors, naval combat systems, avionics) | majority of revenue |
|---|---|
| ICT (systems integration, IT services) | second segment |
| New businesses (satellites, UAM) | early stage |
Recent & upcoming events
- · FY2025 results filed.Full-year 2025 revenue rose 31% to ₩3.66T while operating profit fell 45% to ₩1,199억 and net income fell 53% to ₩2,091억, as strong defense-electronics deliveries were offset by lower-margin mix and other items. (source)
- · ₩3,573억 L-SAM multi-function radar production contract.Signed a production contract with Korea's Defense Acquisition Program Administration (DAPA) for the multi-function radar of the long-range L-SAM air-defense system, with work running to December 2030. (source)
- · Final '425 Project' SAR reconnaissance satellite payload delivered.Supplied the synthetic-aperture-radar payload for the last of Korea's '425 Project' military reconnaissance satellites, completing its role in the country's indigenous surveillance constellation. (source)
Quarterly and annual figures are from Hanwha Systems' DART filings (consolidated). Segment shares are described qualitatively because the DART business report does not break revenue into clean public percentages for the volatile layer.
Figures are as of 2026-05-13 and reflect the most recent public filings/IR releases; they are updated after each earnings report.
What does Hanwha Systems do?
Hanwha Systems is the part of the Hanwha Group that makes weapons think rather than move. Its defense business builds multi-function radars, electro-optical and infrared sensors, naval combat management systems, avionics, tactical communications, and military satellite payloads. A separate ICT segment provides systems integration and IT services to group affiliates and outside clients, and the company is also Hanwha’s vehicle for newer bets in low-earth-orbit satellites and urban air mobility. Its defense work is the structural anchor: it supplies the synthetic-aperture-radar payloads for Korea’s military reconnaissance satellites and the radars and combat systems for the navy’s and army’s frontline platforms (Hanwha Systems, 425 Project SAR payload).
Why is Hanwha Systems a Korea defense company?
Korea’s defense export boom is usually told through the platforms: the K9 howitzer, the K2 tank, the FA-50 jet, the frigates and submarines. Hanwha Systems sells the layer underneath. Its radars detect the threat, its electro-optics track it, and its combat-management systems decide what to do about it. That makes it complementary to the platform makers rather than competitive with them, and it is why Hanwha Systems sits in the Korea defense concept alongside Hanwha Aerospace and Hanwha Ocean. The clearest recent proof point is air defense.
“Hanwha Systems disclosed that it signed a ₩357.3 billion contract with the Defense Acquisition Program Administration for the production of the multi-function radar (MFR) of the long-range L-SAM air-defense system. The production program runs from this day until December 2030.”
What did Hanwha Systems report most recently?
In Q1 2026 (the quarter ended March 31, 2026), Hanwha Systems grew revenue 17% year over year to ₩8,071억 (about KRW 807.1 billion), but operating profit fell 41% to ₩343억 and the company swung to a net loss of ₩958억 from a ₩410억 profit a year earlier, on non-operating and valuation items (DART 분기보고서). That follows a mixed full-year 2025: revenue rose 31% to ₩3.66T, but operating profit fell 45% to ₩1,199억 and net income fell 53% to ₩2,091억, as a heavier mix of lower-margin deliveries and other items weighed on profitability even as the top line grew (DART 사업보고서). The order side has been stronger than the margin side, anchored by the L-SAM radar award and the final 425-Project satellite payload.
What are the risks for Hanwha Systems?
- Margin volatility. Q1 2026 and full-year 2025 both show revenue growing while operating profit falls, a reminder that program mix and cost overruns can compress margins even in a strong order environment.
- Net-loss swings. The Q1 2026 net loss came largely from non-operating and valuation items, which can move earnings around quarter to quarter regardless of the operating business.
- Program and budget concentration. A large share of defense revenue depends on a handful of big Korean government programs (radar, naval combat systems, satellites), so timing slips or budget changes hit hard.
- Early-stage new bets. Satellites and urban air mobility consume capital well before they generate meaningful revenue.
Related securities, concepts & terms
- Korea Defense Industryparent
- Hanwha Ocean (042660)sibling
Related indices & ETFs
- Akros Korea Defense Index · AkrosHanwha Systems is a representative member of the Korea defense concept.
Frequently asked questions about Hanwha Systems
What does Hanwha Systems do?
Hanwha Systems is the defense-electronics and ICT arm of South Korea's Hanwha Group. It builds multi-function radars, electro-optical and infrared sensors, naval combat management systems, avionics, tactical communications, and military satellite payloads, and separately runs an ICT and systems-integration business. It is also Hanwha's platform for newer satellite and urban-air-mobility ventures.
Why is Hanwha Systems part of the Korea defense theme?
It supplies the electronic brains of Korea's defense build-out. Where Hanwha Aerospace, HD Hyundai and Hanwha Ocean build the platforms, Hanwha Systems provides the radars, sensors and combat-management systems that make them fight, which is why it is one of the representative members of the Korea defense concept.
What was Hanwha Systems' latest revenue?
In Q1 2026 (ended March 31, 2026) Hanwha Systems reported revenue of ₩8,071억, up 17% year over year, but operating profit fell 41% to ₩343억 and it posted a net loss of ₩958억 (DART 분기보고서). For full-year 2025, revenue rose 31% to ₩3.66T while operating profit fell 45% to ₩1,199억.
When does Hanwha Systems next report earnings?
Hanwha Systems is expected to file its H1 2026 semi-annual report (반기보고서) around August 14, 2026. That date is estimated from Korea's 45-day semi-annual filing deadline and is not company-confirmed; Korean issuers do not pre-announce earnings dates. It last reported Q1 2026 results on May 13, 2026.
Sources & references
- Hanwha Systems Q1 2026 quarterly report (분기보고서 2026.03) · DART / Financial Supervisory Service, 2026-05-13
- Hanwha Systems FY2025 business report (사업보고서 2025.12) · DART / Financial Supervisory Service, 2026-03-13
- Hanwha Systems wins ₩357.3 billion L-SAM multi-function radar production contract · The Korea Economic Daily (한국경제), 2025-10-02
- Hanwha Systems supplies SAR payload for the final '425 Project' reconnaissance satellite · Electronic Times (전자신문), 2025-11-03