[Breaking] Hanwha Solutions Q2 Operating Profit 221.1 Billion Won... Solar Power Losses for Third Consecutive Quarter

[Asia Economy Reporter Hwang Yoon-joo] Hanwha Solutions recorded an operating profit exceeding 200 billion KRW on a consolidated basis in the second quarter. The chemical business drove the performance, but the solar energy business fell into a loss for the third consecutive quarter due to rising prices of raw and subsidiary materials and increased logistics costs.

Hanwha Solutions announced on the 29th that its consolidated operating profit for the second quarter of this year was 221.134 billion KRW, a 71.09% increase compared to the same period last year. During the same period, sales increased by 41.97% year-on-year to 2.7774 trillion KRW, and net profit rose by 51.26% to 222.78 billion KRW, according to preliminary estimates. Accordingly, the operating profit for the first half of the year was 475.71 billion KRW, up 60.90%, and sales amounted to 5.1817 trillion KRW, an increase of 23.24%.