Hanwha Co., Ltd. Reports 2Q Operating Profit of 769 Billion KRW, Up 53.4% YoY

[Asia Economy Reporter Hwang Yoon-joo] Hanwha Corporation announced on the 6th that its consolidated operating profit for the second quarter of this year reached 769 billion KRW, a 53.4% increase compared to the same period last year. Sales rose 15.2% to 12.6771 trillion KRW, and net profit increased by 63.1% to 572.1 billion KRW.

Hanwha Corporation analyzed that the strong performance was driven by its own business as well as major subsidiaries such as Hanwha Systems exceeding market expectations.

Hanwha Solutions posted its highest-ever quarterly sales of approximately 2.8 trillion KRW, led by strong performance in the chemical division. Hanwha Aerospace achieved excellent results with improved profitability across both defense and civilian businesses. Hanwha Life also saw its consolidated operating profit and net profit for the second quarter increase by around 100% compared to the same period last year.

Hanwha Corporation’s own business also performed well. As equipment demand, which had declined due to COVID-19, gradually increased, profitability in the manufacturing sector improved, and the global division’s performance was boosted by a strong oil and energy business. Hanwha Construction also contributed to the strong results by continuing to start large-scale new projects.

A Hanwha Corporation official stated, "We expect to maintain growth in the second half of the year, supported by global economic recovery and strong performance in our own business. We plan to focus on expanding orders in growth industries such as secondary batteries and secure mid- to long-term growth engines by entering new aerospace businesses such as satellites and air mobility through our subsidiaries."

Meanwhile, Hanwha Corporation announced that it will hold an investor relations meeting for institutional investors and analysts on the 13th.

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