Feb 22, 2024 / 05:00AM GMT
An-sik Yoon - Hanhwa Solutions Corp - CFO
(interpreted) Good afternoon. I am Yoon An-sik, CFO of Hanhwa Solutions. First of all, thank you, everyone, for joining the call. I will brief you on the business performance, financials, and outlook by segment for Q4 and the whole year 2023. First, Q4 '23 performance.
Please turn to page 9 of the presentation. The consolidated sales of Q4 '23 increased by 32% Q on Q to KRW3.869 trillion. This is due to the renewable energy division's increase in module sales volume, sales of power generation assets, and increased EPC profit. Despite gross operating profit from the renewable division, consolidated operating profit declined by 59% Q on Q to record KRW40.7 billion due to the fall in profit from the chemical division and a one-time increase in labor costs.
Pre-tax profit turned negative, recording KRW381.1 billion in loss. It is partially due to KRW350 billion in additional expenses from suspension of module production at Eumseong and impairment loss associated with the production facilities for small cell products.
The
Q4 2023 Hanwha Solutions Corp Earnings Call Transcript
Feb 22, 2024
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