Hanwha Q1 Operating Profit 465.8 Billion KRW... 2.38% Sales Increase Compared to Same Period Last Year

[Asia Economy Reporter Jang Sehee] Hanwha announced on the 29th that it recorded consolidated sales of 13.144 trillion KRW and operating profit of 465.8 billion KRW in the first quarter of this year.

Compared to the same period last year, sales increased by 2.38%, but operating profit decreased by 45.1%.

Hanwha explained, "Operating profit declined compared to the same period last year due to cost increases such as raw material prices and labor costs, as well as a decrease in investment income."

Major affiliates Hanwha Construction and Hanwha Solutions saw sales increase compared to the same period last year, but operating profit decreased by 51.3% and 38.0%, respectively, while Hanwha Life Insurance's sales and operating profit decreased by 7.7% and 73.8%, respectively.

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