Jul 27, 2023 / 05:00AM GMT
Yong-In Shin - Hanwha Solutions Corporation - CFO
[Interpreted] 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, financials and outlook by segment for the period of second quarter 2023.
First, Q2 performance -- please refer to Page 8 of the presentation. The consolidated sales of Q2 '23 increased by 9% Q-on-Q to KRW 3.393 trillion. This is thanks to higher sales from the power generation business in the Renewable Energy division and increase in the module sales. The consolidated operating profit declined by 29% on Q-o-Q at KRW 194.1 billion as the operating profit from the Renewable Energy division shrank.
Continuing from the previous quarter, expected tax credit of KRW 27.9 billion from the U.S. IRA was reflected in the operating profit. Pretax profit and net profit at credit, KRW 44.3 billion and KRW 47.5 billion, respectively. Please refer to the bottom of Page 8 for performance by segment.
Next, on financials. Please turn to Page 9 of the presentation. As of the
Q2 2023 Hanwha Solutions Corp Earnings Call Transcript
Jul 27, 2023
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