[Edaily Reporter Shin Ha-yeon ] #Airrane Co., Ltd., a company specializing in gas separation membrane solutions, continued its module sales growth in the first half of this year, but overall revenue and operating profit declined slightly due to changes in revenue recognition for system sales.

Airrane Co., Ltd. announced on the 13th that it recorded standalone revenue of 13.97 billion won and operating profit of 1.98 billion won for the first half of 2026. These figures represent decreases of 6.1% and 12.0%, respectively, compared to the same period last year. However, net income increased by 416% to 5.87 billion won.

By business segment, revenue from gas separation membrane modules increased by 5.9% from 11.4 billion won in the same period last year to 12.07 billion won, driven by the expansion of new client bases. In contrast, system revenue decreased by approximately 50% from 3.45 billion won to 1.73 billion won, due to the nature of the business where revenue is recognized upon completion of long-term construction projects.

The company explained that the decline in operating profit was influenced by increased export logistics costs resulting from the fallout of the U.S.-Iran conflict. It added that the increase in net income was largely due to one-time gains, including proceeds from the sale of its existing Cheongju plant and increased financial income resulting from rises in the domestic stock market and exchange rates.

Airrane Co., Ltd. is strengthening its businesses in biogas concentration and purification as well as hydrogen power generation in response to the expansion of semiconductor factories and the growth of the fuel cell power generation business to supply electricity to artificial intelligence (AI) data centers. In collaboration with local governments and hydrogen ecosystem operators, the company is moving forward with the construction of biogas upgrading plants and carbon dioxide (CO₂) capture and liquefaction plants for small-scale hydrogen production (SMR).

Based on its gas separation and purification technologies, Airrane Co., Ltd. is expanding its business scope to include carbon dioxide capture and utilization (CCUS) in fuel cells and industrial processes, biogas upgrading, and hydrogen production and purification. In response to oil price volatility stemming from the U.S.-Iran conflict and growing demand for renewable energy, the company is also developing a new product for biogas upgrading, with the goal of launching it within the year.

The company has also expanded its production base by completing the first phase of expansion at its new Cheongju plant. Based on growth in module sales, new orders, and expanded production capacity, the company expects its revenue growth trend to continue in the second half of the year.

Ha Seong-yong, CEO of Airrane Co., Ltd., stated, “The decline in revenue and operating profit in the first half was a temporary effect resulting from increased export logistics costs due to the U.S.-Iran conflict and changes in the accounting treatment for revenue recognition of system sales.” He added, “We expect a recovery in performance in the second half based on the steady growth of module sales and new order activities, and we will secure new growth drivers through the launch of new products for biogas upgrading.”