Hanwha Solutions Corporation posts 90.5 billion won in Q3 operating profit, its third consecutive profitable quarter

[Financial News] Hanwha Solutions Corporation posted a profit for the third consecutive quarter, buoyed by increased U.S. solar module sales and improved profitability in its residential energy business. Consolidated revenue for the third quarter of this year rose 17.4% year over year to 3.9486 trillion won, while operating profit came to 90.5 billion won, marking a return to profitability. However, operating profit fell 70.5% from the previous quarter, partly due to losses in the Chemicals division.
Hanwha Solutions Corporation announced its third-quarter results on the 29th. Revenue increased 17.4% year over year, while operating profit swung to a profit from a loss of 7.4 billion won in the third quarter of last year.
By business division, the Renewable Energy division posted revenue of 2.1632 trillion won and operating profit of 105.1 billion won. It maintained its profitability, supported by increased module sales to the U.S. and improved profitability in its residential energy business.
The Chemicals division posted revenue of 1.3426 trillion won and an operating loss of 44.7 billion won. Product prices weakened as geopolitical risk premiums narrowed and international oil prices fell, while the use of high-cost raw materials had a reverse-lag effect, worsening profitability.
The Advanced Materials division posted revenue of 291.9 billion won and operating profit of 38.9 billion won. Operating profit increased as key customers for lightweight composite materials raised production volumes in the North American market, while solar materials sales also remained stable.
Hanwha Solutions Chief Financial Officer (CFO) Lee Jae-bin said, “With Solar Hub ramping up operations in earnest, we have achieved three consecutive quarters of profitability, led by the Renewable Energy division.” He added, “In the fourth quarter, module selling prices are expected to continue their upward trend in response to changes in U.S. trade policy. However, short-term earnings volatility is expected due to the lag in reflecting selling prices and changes in the schedules and costs of EPC projects.”

[email protected] Kim Mi-hee Reporter