LIG Defense & Aerospace 2026Q2：营收同比+17.4%，营业利润同比+29.5%，但低于预期且环比下滑

LIG Defense & Aerospace (LIG D&A) posted double-digit growth in both revenue and operating profit in the second quarter this year, driven by expanding demand for K-defense products. However, the results fell somewhat short of sharply raised market expectations.
LIG D&A reported second-quarter revenue of 1.1101 trillion won and operating profit of 105.7 billion won on a consolidated basis, the company said in a regulatory filing on the 6th. The figures represent increases of 17.4% and 29.5%, respectively, from a year earlier.
The operating profit margin also improved, rising 0.9 percentage points to 9.5% in the second quarter this year from 8.6% in the same period last year. The improvement was driven by the higher share of high-margin export business in revenue, which rose to 25.4% from 17.4% over the same period.
However, the results fell short of the securities market's consensus estimates of 1.1646 trillion won in revenue and 110.5 billion won in operating profit. Compared with the previous quarter, revenue fell 4.9% and operating profit dropped 38.2%.
Ghost Robotics, a Philadelphia-based quadruped robot company in which LIG D&A acquired a 60% stake for approximately 332 billion won in July 2024, posted an operating loss of 12.2 billion won in the second quarter this year, weighing on the results.
On a cumulative first-half basis, the company recorded revenue of 2.278 trillion won and operating profit of 276.8 billion won. Compared with the same period last year, revenue rose 22.9% and operating profit surged 44.8%.
LIG D&A's order backlog stood at 24.57 trillion won as of the end of June this year, an increase of 1.11 trillion won over one year. New orders in the second quarter alone reached 326.35 billion won.