HanmiGlobal Reports Operating Profit of 6.8 Billion KRW in Q1, Up 62% YoY

HanmiGlobal announced on the 15th that it recorded sales of 100.5 billion KRW, operating profit of 6.8 billion KRW, and net profit of 6.2 billion KRW based on consolidated financial statements for the first quarter of this year.

Compared to the same period last year, sales increased by 28.2%, operating profit and net profit rose by 61.9% and 100%, respectively. It is analyzed that large-scale project orders overseas, including Saudi Arabia and the United States, stable sales in the high-tech sector, and increased sales from group companies drove the performance.

In particular, regarding the Saudi NEOM City project, following the service contract for the construction of 50,000 worker accommodation units signed in November last year, an additional service contract for 20,000 units was signed in March this year. This project is part of a large-scale development to build 489,500 worker accommodation units on a total site area of 26.4㎢ in the Tabuk region of northwestern Saudi Arabia.

HanmiGlobal also participated as part of Team Korea in the '2nd Korea-Saudi Mobility and Innovation Roadshow' jointly hosted by the Ministry of Land, Infrastructure and Transport and the Saudi Ministry of Transport and Logistics on the 9th, where they held meetings with the Saudi delegation, including Minister Saleh bin Nasser Al-Jasser.

Additionally, overseas construction project management (PM) service contracts were secured for LG Chem’s cathode material plant in the United States, SK Hynix’s San Jose Global Campus renovation project, and KT&G’s overseas factories in three regions: Eastern Europe, Kazakhstan, and Indonesia.

Sales in the high-tech sector remain solid. Stable sales are being generated at major domestic high-tech production facility construction sites, including Samsung Electronics’ P4L and P3L production lines at the Pyeongtaek semiconductor plant and the PM for the new construction of Samsung Display’s Giheung campus in Yongin, projects won last year.

A HanmiGlobal official stated, "Following last year’s record-high performance, steady growth continued in the first quarter of this year, making the outlook bright. We will strive to maintain solid growth through a diverse business portfolio, including expanding overseas orders in North America, Europe, and Vietnam, as well as PM projects in high-tech and renewable energy sectors, in addition to Saudi Arabia."

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