Hanwha Co., Ltd. and Hanwha Precision Machinery Acquire 'Collaborative Robot Business'

[Asia Economy Reporter Park So-yeon] Hanwha Corporation announced on the 13th that it will acquire the collaborative robot business from Hanwha Precision Machinery to ensure sustainable growth and future value.

A Hanwha Corporation official explained, "We plan to create synergy by advancing the logistics center, secondary battery, and display-related equipment currently supplied using the robotics technology of the collaborative robot business."

He added, "We also plan to secure mid- to long-term growth engines through the expansion of in-house businesses related to the 4th Industrial Revolution and Green New Deal, as well as new business ventures by affiliates."

On the same day, Hanwha Corporation disclosed that its consolidated operating profit for the second quarter of this year was tentatively estimated at 501.3 billion KRW, a 37.88% increase compared to the same period last year.

Sales amounted to 11.0041 trillion KRW, a 14% decrease compared to the same period last year. Net profit increased by 82.5% to 350.7 billion KRW.

Hanwha Corporation achieved results that significantly exceeded market expectations.

Operating profit increased by 37.9% (137.7 billion KRW) year-on-year, driven by improvements in in-house businesses and major subsidiaries such as Hanwha Solutions and Hanwha Life Insurance, which is more than 50% higher than market forecasts. Net profit also rose by 82.5% (158.5 billion KRW).

In Hanwha Corporation’s in-house businesses, operating profit increased by 21.6% thanks to the normalization of the defense sector.

Hanwha Solutions saw increases in both operating profit and net profit compared to the previous year due to improved profitability in the chemical division following a decline in raw material prices. Hanwha Life Insurance also demonstrated solid performance, supported by improved profitability from a lower loss ratio and the reversal of variable annuity reserves due to stock market gains.

Although some uncertainties remain due to the ongoing impact of COVID-19 in the second half of the year, performance is expected to improve year-on-year thanks to strong in-house businesses, gradual demand recovery in Hanwha Solutions’ solar division, improved loss ratios at Hanwha Life Insurance, and increased sales in Hanwha Aerospace’s defense sector.