Hanwha sees Q2 profit increase 53%

Hanwha Corporation said on Friday that it has posted 12.67 trillion won in revenue and 769 billion won in operating income.

Revenue increased 15.2% from the previous year while operating income jumped 53.4% over the same time period.

Hanwha also recorded a net income of 572.1 billion won, an increase of 63.1% from the previous year.

The company’s chemical business unit posted 2.8 trillion won in revenue, its highest figure ever.

Its aerospace business unit also saw operating income jump 88% from the previous year.

Hanwha said it also saw a recovery in demand for its equipment after they dropped last year from the pandemic.

Its construction business also won multiple orders during the quarter, the company said.

A Hanwha spokesperson said the company plans to focus on its new business areas such as battery going forward.

The firm will expand supply of production equipment to the sector, it added.