Apr 27, 2023 / 05:00AM GMT
Yong-In Shin - Hanwha Solutions Corporation - CFO
Good afternoon. I am Shin Yong-In, CFO of Hanwha Solutions. Thank you for joining the call today. I will brief you on the business performance and financials of Q1 '23 and outlook by segment. For your information as the Galleria division spun off as of March 1. The divisional performance was categorized to be from discontinued operations and thus excluded from the operating profit and included in net profit as profit loss from discontinued operations.
First, Q1 '23 performance. Please turn to Page 8 of the presentation. The consolidated sales of the Q1 '23 declined by 18% Q-on-Q to KRW 3,100. -- billion. This is attributable to a decline in sales realization from the power generation business of the renewables and reduced modern sales volume. The operating profit increased by 62% Q-on-Q to record KRW 271.4 billion due to onetime expense of previous quarter and favorable performance throughout all divisions. As it has decided to record expected tax credit from the U.S. IRA as operating profit from Q1, KRW 22.9 billion out of the KRW
Q1 2023 Hanwha Solutions Corp Earnings Call Transcript
Apr 27, 2023
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