 |
Photo = Hanwha Solution |
[Alpha Biz= Kim Jisun] Hanwha Solutions, on a consolidated basis, reported an operating loss of 300.2 billion KRW for the previous year, a dramatic shift from the operating profit of 579.2 billion KRW in the previous year. This preliminary data was disclosed in a statement on Thursday.
The company’s revenue totaled 12.394 trillion KRW, a decrease of 5.23% compared to the previous year. Net losses widened to 1.2896 trillion KRW.
In the fourth quarter, operating profit increased by 70.79%, amounting to 107 billion KRW, compared to the same period last year. For the quarter, revenue was 4.643 trillion KRW, with net losses of 124.2 billion KRW.
Business Segment Breakdown:
Renewable Energy: Revenue in this segment reached 5.7658 trillion KRW, but operating losses totaled 257.5 billion KRW. The slowdown in profitability was due to price weakness caused by oversupply in modules and other related businesses. However, sales from the disposal of development assets and the EPC (Engineering, Procurement, and Construction) sector saw growth, reaching nearly 3 trillion KRW, continuing the momentum from the previous year.
Chemicals: This segment achieved revenue of 4.8172 trillion KRW, but recorded an operating loss of 121.3 billion KRW. The sector faced pressure from the global economic downturn, resulting in continued price weakness in major products, higher shipping costs, and increased electricity fees.
Advanced Materials: The segment reported revenue of 1.0376 trillion KRW, with an operating profit of 23.5 billion KRW. Increased demand for lightweight composite materials due to growing automotive needs contributed to higher sales. However, weakness in the prices of solar materials and fixed costs from the U.S. plant's early-stage operations affected profitability.
For the fourth quarter of 2024, Hanwha Solutions’ revenue reached 4.6429 trillion KRW, with operating profit of 107 billion KRW. The quarterly revenue was the highest since the introduction of the International Financial Reporting Standards (IFRS) in 2011.
Notably, the Renewable Energy segment achieved its highest-ever quarterly revenue (2.869 trillion KRW), driven by increased module sales and higher EPC revenues, and turned profitable with a 60.6 billion KRW operating profit.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
