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PRESS RELEASE
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Orbitech, 1Q sales of 13 billion... “Aerospace business performance is improving, expected to improve in the second half of the year”
Monday, 16 May 2022

Orbitech announced an improvement in performance this year, focusing on the performance of the aerospace business.

Orbitech announced on the 13th that its consolidated sales in the first quarter of this year recorded 12.9 billion won, up 5.9% from the same period last year. Operating loss was KRW 250 million and quarterly net loss was KRW 320 million.

Orbitech is mainly engaged in the maintenance and inspection of nuclear facilities, radioactive waste management and treatment, and aircraft precision parts manufacturing. In the case of nuclear power-related businesses, the company plans to secure sales by targeting concentrated bidding in the second half of the year.

The Aviation Business Headquarters is recovering its performance as the value chain of the aviation industry is on the right track. From the first quarter of this year, it has been on the trend of improving performance. The airline business division's first quarter sales were 5 billion won, up 356.8% from last year's 1.1 billion won. Operating profit also turned to black with 1.3 billion won.

Orbitech mainly manufactures structures used for the B737, the flagship model of Boeing, a global finished aircraft manufacturer. Approximately 1,000 parts that go into the aircraft are manufactured by Orbitech; including the bulkhead, the jack screw, and the rear spar, which is a part that is mounted on the horizontal tail wing and performs the function of adjusting the lift and descent of the aircraft.

The B737 is Boeing's representative single aisle aircraft, and it is the flagship model which accounts for about 70% of Boeing's total aircraft.

As Boeing's aircraft production increases, Orbitech's performance naturally increases as well.

A company official said, “The plant utilization rate of the Aviation Business Headquarters has also increased, achieving 60% of last year’s annual business division sales in the first quarter of this year. It looks like it will improve.”

Meanwhile, nuclear power-related businesses are also expected to be positively affected by the policy stance of the new government. As a new government with aspirations to foster the nuclear power plant industry is inaugurated, benefits are expected throughout the business, including maintenance and inspection of nuclear power-related facilities and management and treatment of radioactive waste.

Contact details from our directory:
Orbitech Co. Ltd. Aircraft Interior Bulkheads, Precision Machined Parts, Computer-aided Engineering, Research/Consulting Services, Wing Spars
Related directory sectors:
Structural Components