[Edaily Reporter Park Jung-Soo ] KSP CO., LTD(073010)(KSP) posted its highest-ever order backlog for the first half of the year, driven by an increase in orders for marine engine parts. Second-quarter revenue also exceeded 30 billion won for the first time since the company’s founding, marking its highest quarterly revenue to date.
KSP CO., LTD announced on the 18th that its order backlog for the first half of this year reached 115.9 billion won, a 42% increase compared to the same period last year.
KSP CO., LTD has continued its upward trend since its order backlog surpassed 100 billion won for the first time since the company’s founding in late April. The increase in the order backlog was driven by rising export volumes—not only domestically but also to China and Europe—in its core business of large engine parts.
Orders for medium-sized engine parts are also on the rise. The order backlog for medium-sized engine parts, which stood at 5.1 billion won at the end of last year, increased to 7.3 billion won in the first quarter of this year and 8.1 billion won in the second quarter. The company expects orders for key components of medium-sized engines to rise as domestic marine engine manufacturers expand into the onshore power generation market amid growing demand for power generation engines for artificial intelligence (AI) data centers.
The expansion in orders has led to earnings growth. In the second quarter, KSP CO., LTD surpassed 30 billion won in quarterly revenue for the first time since its founding. Consolidated revenue for the first half of the year reached 56.4 billion won, a 24% increase compared to the same period last year. Operating profit rose 35% to 8.3 billion won, and net profit increased 33% to 5.4 billion won.
A KSP CO., LTD official stated, “With orders for key marine engine components increasing from major domestic and international engine manufacturers, we are on track to achieve annual revenue of 100 billion won for the first time since our founding this year,” adding, “We will simultaneously pursue both scale expansion and qualitative growth by expanding production capacity (CAPA) through the relocation to a new factory and continuous technological advancement.”
Meanwhile, KSP CO., LTD is expanding the technology it has accumulated in the shipbuilding sector into the AI data center and defense industries. Last May, the company was selected as the lead agency for a government-funded project worth a total of 27 billion won to develop core structural component technologies for the defense, power generation, and aerospace sectors. Through this initiative, the company plans to secure next-generation materials for aviation gas turbine engines and technologies related to multi-stage blisks.