HanmiGlobal Reports Q1 Revenue of 78.4 Billion KRW, Up 35% Year-on-Year

Q1 Consolidated Operating Profit of 4.2 Billion
Impact of Increased Sales in High-Tech Sector
Overseas Orders Also Up 65% YoY

[Asia Economy Reporter Hwang Seoyul] The first-quarter sales of HanmiGlobal, a PM (Construction Project Management) company, rose 35% compared to the same period last year. This increase was driven by higher sales in the high-tech sector due to investments in semiconductor and secondary battery manufacturing plant facilities.

HanmiGlobal announced on the 16th that its consolidated first-quarter sales reached 78.4 billion KRW, a 35% increase compared to the same period last year. Operating profit for the same period was 4.2 billion KRW, up 8% year-on-year. On a separate basis, first-quarter sales increased 39% to 42 billion KRW, and operating profit rose 57% to 3.1 billion KRW.

HanmiGlobal stated, "The increase in sales in the high-tech sector due to investments in semiconductor and secondary battery manufacturing plant facilities, along with steady growth in demand for domestic logistics centers and data center construction, contributed to the first-quarter performance."

Overseas orders increased by approximately 65% compared to the same period last year. In the first quarter, HanmiGlobal secured PM service contracts for the monopile production plant of SeAH Wind, a UK subsidiary of SeAH Steel Holdings, and for a copper foil factory, a key material for electric vehicle batteries, being constructed in Poland by SK Nexilis, a subsidiary of SKC.

Strengthening business in the U.S. region is also underway. Earlier this year, through its U.S. subsidiary OTAK, HanmiGlobal acquired the PM company Tar Whitman Group. Additionally, last year, HanmiGlobal participated as the special overall program manager in the large-scale new city construction project 'NEOM Smart City' in Saudi Arabia and plans to continue its involvement in this project going forward.

A HanmiGlobal official said, "As local quarantine measures ease and economic activities gradually resume, overseas business, which had slowed due to COVID-19, is expected to become more active. We will continue to achieve strong results in the second quarter through ongoing customer-centric innovation."