HanmiGlobal Q1 Operating Profit Up 23.5%... "Strong Overseas Business"

HanmiGlobal announced on the 16th through its earnings disclosure that it recorded sales of 101.8 billion KRW and an operating profit of 8.4 billion KRW based on consolidated financial statements for the first quarter of this year. Compared to the same period last year, sales increased by 1.3% and operating profit grew by 23.5%. Despite the domestic construction market downturn, growth was driven by strong overseas business performance and expanded sales in high-tech sectors such as semiconductors and secondary batteries.

In particular, overseas sales in the first quarter amounted to approximately 56 billion KRW, accounting for 55% of total sales. Significant growth was seen in key overseas markets including Saudi Arabia, the United States, and the United Kingdom. Specifically, the Saudi Arabia branch, responsible for projects such as the Neom City worker accommodation complex, Rosheen housing complex, and Diriyah development project, posted first-quarter sales of 11.1 billion KRW, an increase of 3.2 billion KRW compared to the previous year. Additionally, centered on OTAK, a U.S. engineering firm acquired by HanmiGlobal in 2011, the company managed high-tech factory construction projects (PM) for major Korean conglomerates in the U.S. market, generating 31.3 billion KRW in sales for the first quarter, up 6.3 billion KRW from the same period last year. During the same period, the UK market achieved sales of 11.8 billion KRW, an increase of 1.9 billion KRW.

Sales in the high-tech sector remain solid. Samsung Electronics’ P4L production facility in Pyeongtaek increased service fees by 34.2 billion KRW in two increments at the end of last year and in April this year, and the supervision and PM service fees for the new NRD-K building on the Samsung Electronics campus also increased by 12.2 billion KRW in February this year. In the high-tech field, HanmiGlobal is expected to benefit from the anticipated expansion of AI data centers. The company has been responsible for over 20 data center construction projects, including Naver’s 'Gak Sejong,' Asia’s largest data center completed last year.

News of large project wins continues. In December last year, HanmiGlobal secured the PM service contract for the Abdullah New City development project in Kuwait, and domestically, it won contracts for the modernization project of the Bucheon combined heat and power plant in January and the PM service contract for the new construction of the Bank of Korea Gangnam headquarters event hall in April.

A HanmiGlobal official stated, "Despite the industry downturn, we surpassed annual sales of 400 billion KRW for the first time since our founding and continue to maintain growth momentum in the first quarter of this year. We will strive to sustain solid growth through expanding overseas orders in North America, Europe, and the Middle East, as well as maintaining a diverse business portfolio including high-tech and energy infrastructure sectors."

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