Hanwha Solutions 3Q Earnings Weak... Solar Power Expected to Post 100 Billion KRW Loss

[Asia Economy Reporter Park Soyeon] Yuanta Securities has forecasted a weak performance for Hanwha Solutions in the third quarter of this year.

According to FN Guide on the 26th, Yuanta Securities recently reported that Hanwha Solutions is expected to record sales of 2.6671 trillion KRW and an operating profit of 150.8 billion KRW in the third quarter.

The solar power division is expected to incur a loss of about 100 billion KRW. Eunjeong Park, a researcher at Yuanta Securities, explained, "Due to the sharp rise in polysilicon prices, the profitability of module sales has weakened, making it difficult to expect momentum."

The chemical division is analyzed to be improving due to the rise in coal prices in China, carbon reduction regulations, and a surge in prices caused by a supply shortage of PVC caustic soda.

The securities firms' consensus for Hanwha Solutions' third-quarter performance is sales of 2.7108 trillion KRW and an operating profit of 186.2 billion KRW. Sales are expected to increase by 11.63% year-on-year, while operating profit is expected to decrease by 20.15% compared to the previous year.