Hanwha Galleria Q1 Operating Profit 7.4 Billion KRW... Double-Digit Growth

Sales of 122.1 Billion Won... Slight Increase Compared to Previous Year

Hanwha Galleria announced on the 14th that its consolidated operating profit for the first quarter of this year was tentatively estimated at 7.4 billion KRW.

Hanwha Galleria was spun off from Hanwha Solutions in March last year and listed, so the first quarter results for last year only include figures for the month of March. The company analyzed that this operating profit recorded a double-digit growth rate, achieving favorable results.

Hanwha Galleria's sales for the first quarter of this year amounted to 122.1 billion KRW, slightly increasing compared to the same period last year. A Hanwha Galleria official stated, "We recorded favorable results due to strong performance from foreign customers at the luxury store and management efficiency," adding, "We will maintain the current performance trend by strengthening VIP services and product competitiveness."

The first quarter sales of FG Korea (Five Guys), a subsidiary in the food and beverage sector, and Vino Galleria were recorded at 8.7 billion KRW. Last year's quarterly sales and operating profits were 127.1 billion KRW and 3.9 billion KRW in the second quarter, 120 billion KRW and 2 billion KRW in the third quarter, and 145.3 billion KRW and 2.2 billion KRW in the fourth quarter, respectively.