Hanwha Solutions Posts Q2 Operating Profit of 306.5 Billion Won... Renewable Energy and Chemicals Remain in the Black for Second Consecutive Quarter

Rising Module Prices and Timely Raw Material Procurement
"Full-Scale Operation at Cartersville Plant in the Third Quarter"

Hanwha Solutions announced on July 29 that, on a consolidated basis, it posted revenue of 4.5826 trillion won and operating profit of 306.5 billion won for the second quarter of this year. Despite external uncertainties, its main businesses—renewable energy, chemicals, and advanced materials—remained in the black for a second consecutive quarter.

Hanwha Solutions CI.

The renewable energy segment recorded revenue of 2.4823 trillion won and operating profit of 166.4 billion won. Higher module sales prices, the sale of development assets, and stable revenue from the residential energy business led to improved performance.

The chemical segment posted revenue of 1.465 trillion won and operating profit of 87.1 billion won. Despite geopolitical risk stemming from the Middle East, the company managed to secure raw materials such as ethylene in a timely manner, maintaining a stable production and sales system and continuing to generate profit.

The advanced materials segment recorded revenue of 300.3 billion won and operating profit of 28.8 billion won. Strong sales of solar materials in North America contributed to improved profitability.

Jaybin Lee, Chief Financial Officer (CFO) of Hanwha Solutions, stated, "We expect an increase in revenue from the residential energy business in the third quarter," adding, "As the solar value chain at the Cartersville plant is fully launched, we anticipate continued solid results in the renewable energy segment."

This content was produced with the assistance of AI translation services.