[Special Stock] 'Operating Profit↓·Dividend↑' Hanwha Solutions Falls 9.30%

Operating Profit Last Year Down 34.6% Compared to 2022

Hanwha Solutions' stock price is declining following a deterioration in operating profit last year. As of 2:40 PM on the 22nd, Hanwha Solutions' stock is trading at 29,750 KRW, down 3,050 KRW (9.30%) compared to the previous trading day.

On this day, Hanwha Solutions announced that last year it recorded consolidated sales of 13.2887 trillion KRW and an operating profit of 604.5 billion KRW. Sales increased by 1.2% compared to the previous year, but operating profit decreased by 34.6%. In particular, the chemical division's operating profit dropped by 89.9% to 59.5 billion KRW. A prolonged global petrochemical supply-demand imbalance and regular maintenance in the fourth quarter of last year affected profitability. Operating profit in the fourth quarter of last year was 40.7 billion KRW, down 75.8% compared to the same period the previous year.

Along with the earnings announcement, Hanwha Solutions explained that it plans to pursue cash dividends this year and next year. For the first time in four years, it will pay cash dividends following approval at the regular shareholders' meeting. A cash dividend of 300 KRW per common share and 350 KRW per preferred share will be paid, with a total dividend amount of 51.7 billion KRW. This year's regular shareholders' meeting will be held on the 26th of next month.