The company posted 4.58 trillion won ($3.2 billion) in consolidated sales and 306.5 billion won in operating profit in the April-June period. Sales rose 18 percent from 3.88 trillion won in the first quarter, while operating profit jumped 231 percent from 92.6 billion won, marking a second consecutive quarterly profit.
The renewable energy division recorded 2.48 trillion won in sales and 166.4 billion won in operating profit, up from 2.11 trillion won in sales and 62.2 billion won in operating profit three months earlier. Hanwha Solutions attributed the improvement on higher module selling prices, the sale of development assets and a stable revenue base from its residential energy business.
The chemical division also extended its recovery, with sales rising to 1.47 trillion won from 1.34 trillion won in the previous quarter. Operating profit more than doubled to 87.1 billion won from 34.1 billion won, as the company maintained stable production and sales by securing key raw materials, including ethylene, despite geopolitical risks in the Middle East.
The advanced materials division posted 300.3 billion won in sales and 28.8 billion won in operating profit, compared with 285.6 billion won in sales and 12.2 billion won in operating profit in the first quarter. The company said profitability improved on continued strong sales of solar materials in North America.
“Revenue from the residential energy business is expected to increase in the third quarter, and the renewable energy division is projected to maintain solid earnings as the full solar value chain at the Cartersville plant begins full-scale operations,” said Lee Jae-bin, chief financial officer of Hanwha Solutions.
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