Xenoco, a satellite communications and aerospace company, announced on the 24th that its consolidated sales for the year reached 59.6 billion won, a 4.9% increase year-on-year. Operating profit for the same period narrowed to -2.1 billion won, a narrowing deficit.
The company cited the expansion of the satellite and aviation markets and the resulting increase in orders as the primary drivers of its sales growth. The company explained that the growing demand for advanced low-orbit satellite communications and military satellite communications systems led to an expansion in the supply of related equipment, leading to increased sales.
Recently, Xenoco has proven its technological competitiveness by securing a KRW 6.1 billion contract to develop an onboard computer (OBC) for a 6G low-orbit communications satellite project and to supply a high-power amplifier (TWTA) for a surface ship's military satellite communications system. The company anticipates that these contracts will lead to sales growth this year.
However, the company stated that the operating loss was a reflection of preemptive investments in new satellite segments. They explained that the short-term slowdown in profitability was due to increased R&D costs, including the development of next-generation satellite equipment.
A company official said, “Based on cooperation with our largest shareholder, Korea Aerospace Industries, synergy in the space and defense industries is expanding,” and “Based on the secured order volume, we will continue to achieve external growth and pursue performance improvement this year.”
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