Hanwha Solutions said Thursday that it recorded consolidated revenue of 3.9486 trillion won and an operating profit of 90.5 billion won for the third quarter of this year. Revenue increased by 17.37% year-on-year, while operating results turned to a profit.
The renewable energy segment led the performance. It generated revenue of 2.1632 trillion won and an operating profit of 105.1 billion won. The company maintained its profitable trend as solar module sales increased, centered on the U.S. market, and the profitability of its residential energy business improved.
The chemicals segment underperformed. Revenue was recorded at 1.3426 trillion won, with an operating loss of 44.7 billion won. Profitability deteriorated as product prices weakened due to the narrowing geopolitical risk premium and falling international oil prices, compounded by a "reverse lagging" effect in which high-priced raw materials were reflected in costs with a delay.
The advanced materials segment recorded revenue of 291.9 billion won and an operating profit of 38.9 billion won. Profit growth was supported by increased production volumes from a major customer of lightweight composite materials in North America, along with stable sales trends for solar materials.
Lee Jae-bin,CFO of Hanwha Solutions, said, "With the full-scale operation of SolarHub, we achieved three consecutive quarters of profitability, centered on the renewable energy segment."
He added, "In the fourth quarter, module selling prices are expected to continue rising due to changes in U.S. trade policy, but short-term earnings volatility is anticipated due to price reflection lags and fluctuations in schedules and costs for engineering, procurement, and construction (EPC) projects."
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