HanmiGlobal Reports Cumulative Q3 Operating Profit of 16.5 Billion KRW, Up 31% YoY

[Asia Economy Reporter Ryu Tae-min] HanmiGlobal announced on the 16th that its cumulative operating profit for the third quarter of this year, based on consolidated financial statements, was 16.5 billion KRW. This represents a 31% increase compared to the same period last year.

Sales increased by 9% year-on-year to 191.7 billion KRW. The operating profit margin reached 9%. HanmiGlobal expects to continue its growth trend next year as demand for construction projects is anticipated.

In the third quarter, HanmiGlobal steadily secured orders for projects including the Samsung Life SeoSoMun Building redevelopment, the large-scale complex facility development in Magok CP4 district in Seoul, and semiconductor production facility projects. The company stated that sales of smart logistics centers and data centers increased due to the impact of COVID-19 this year, and the expansion of renewable energy-related projects drove the performance growth.

In particular, this month, a $1.2 trillion (approximately 1,400 trillion KRW) infrastructure investment bill passed the U.S. Congress, and HanmiGlobal expects its U.S. subsidiary OTAK to directly benefit. OTAK, acquired by HanmiGlobal in 2011, is a comprehensive engineering company that plans, designs, and manages infrastructure projects such as new town development, railroads, ports, and roads.

Domestically, benefits are also expected from the revitalization trend of reconstruction and redevelopment projects. HanmiGlobal is actively expanding its business for reconstruction and redevelopment projects after signing a business agreement with a trust company last year to carry out urban regeneration projects.

Additionally, HanmiGlobal continues its efforts for sustainable management, having received an excellent A grade in the '2021 Listed Companies ESG Evaluation.' This year, the company established an ESG (Environmental, Social, and Governance) committee within the board of directors and formed an internal ESG working group.

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