Apr 25, 2024 / 05:00AM GMT
Yoon An-Sik - Hanwha Solutions Corp - CFO
Good afternoon. I am Yoon An-Sik, CFO of Hanwha Solutions. I'd like to thank everyone for joining the call today. I will brief you on the business performance, financials, and outlook by segment for Q1 of 2024.
First, the company's performance during the first quarter of 2024. Please refer to page 8 of the presentation. The consolidated sales of Q1 2024 declined by 38% Q-on-Q to KRW2.3929 trillion. This is due to the decline in module sales and the ASP, sales of power generation assets, and reduction in EPC sales.
The consolidated operating profit recorded negative KRW216.6 billion due to loss of the division pre-tax profit record date, negative KRW517.5 billion due to decline in equity method gain, and asset impairment loss of KRW140 billion coming from suspension of Chinese solar manufacturing facility. Net income is negative KRW448.4 billion.
Please refer to the bottom of page 8 for the performance by segment. Please refer to page 9 for financials. As of the end of the first quarter of 2024 for non-financial business
Q1 2024 Hanwha Solutions Corp Earnings Call Transcript
Apr 25, 2024
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