Halla "Last Year's Construction Projects in Full Swing" ... Turning a Profit in Q2

[Asia Economy Reporter Kim Yuri] Hanra announced on the 28th that its consolidated operating profit for the second quarter of this year turned to a profit of 29.1 billion KRW compared to the same period last year.

During the same period, sales increased by 30.1% year-on-year to 410.2 billion KRW, and net profit also turned to a profit of 17.2 billion KRW. The company explained, "These figures show significant improvement across all sectors," adding, "Many projects that began construction last year have been fully activated, and intensive innovation activities have been carried out, resulting in a substantial reduction in cost ratio and selling and administrative expenses."

Hanra achieved approximately 950 billion KRW in new orders in the construction sector during the first half of this year. This amount corresponds to 50% of this year's new order target. The order backlog also recorded 3.2 trillion KRW at the end of the second quarter. The interest coverage ratio also rose sharply from -0.3 in the same period last year to 3.7 based on consolidated financial statements. The company stated, "There is a continuous upward trend in orders and operations, and financially, we are maintaining a stable level."

Hanra plans to focus on high-profit projects such as self-developed projects and planned proposal projects in the construction sector while controlling pre-risks to build a stable performance base. The company also intends to pursue new businesses to secure future growth engines. Hanra said, "Last month, we completed the preliminary approval application for AMC (Asset Management Company) to the Ministry of Land, Infrastructure and Transport," adding, "We plan to enter the REITs market through AMC in the future and elevate our capabilities as a developer to the next level."

It continued, "We plan to actively discover and promote new businesses related to IT technology integration in existing construction fields such as smart ports and data center construction projects, as well as related solutions and platforms." The company will also pursue profit improvement through new mergers and acquisitions (M&A) and investments in proptech startups. Efforts to enhance the value of subsidiaries such as Seragio CC, Hanra GLS, Hanra OMS, and Mokpo New Port Operation will also continue.

A Hanra official said, "To achieve the business plan established at the beginning of the year, we will further strengthen cash-centered management through efficient fund execution while accelerating preparations for the future."

This content was produced with the assistance of AI translation services.