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(LEAD) Hanwha's net profit up 63.1 pct in Q2

All News 10:44 August 06, 2021

(ATTN: RECASTS headline, lead; ADDS more info from para 2)

SEOUL, Aug. 6 (Yonhap) -- Hanwha Corp., the holding firm of major South Korean conglomerate Hanwha Group, said Friday its second-quarter earnings jumped more than 60 percent on brisk sales from its own business and subsidiaries.

Consolidated net profit stood at 572.1 billion won (US$500.2 million) in the April-June period, up 63.1 percent from a year earlier, the company said in a regulatory filing.

Operating profit soared 53.4 percent on-year to 769 billion won in the quarter, with sales swelling 15.2 percent to 12.67 trillion won.

The operating profit was 29.8 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

Hanwha said better-than-expected performances by its own business and subsidiaries contributed to the jump in second-quarter earnings.

Energy solutions arm Hanwha Solutions Corp. posted the largest quarterly sales of 2.8 trillion won for the April-June period thanks to the chemical division's brisk performance.

Hanwha Life Insurance Co., the second-largest life insurer in South Korea, saw its second-quarter net profit nearly double from a year earlier.

Vowing all-out efforts to explore new growth engines, Hanwha Corp. expected its good performance to continue in the second half of the year on a global economic recovery and strong activity from its own business.

The corporate logo of Hanwha Corp (Yonhap)


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