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(Seoul=NSP NEWS AGENCY) = Hanwha Solutions has continued to post operating losses for three consecutive quarters, but reduced its deficit in the third quarter by improving profitability in its engineering, procurement, and construction(EPC) business.

In particular, Hanwha Qcells, which is in charge of the renewable energy sector, is expected to turn a profit in the fourth quarter through the sale of development assets, etc. Hanwha Solutions announced on the 30th that it recorded sales of KRW 2.7733 trillion and an operating loss of KRW 81 billion in the third quarter of this year.

Hanwha Qcells recorded sales of KRW 1.1525 trillion and an operating loss of KRW 41 billion. Hanwha Qcells, which is responsible for nearly half of Hanwha Solutions’ sales, posted losses of KRW 185.3 billion and KRW 91.8 billion in the first and second quarters of this year, respectively, but reduced its losses by nearly half in the third quarter. The company analyzed that the quarterly deficit was reduced by more than 50% compared to the previous quarter due to the sale of development assets and improved profitability in the EPC business.

Following the sale of PSE, Hanwha Solutions plans to additionally sell development assets within the year, which will be reflected in the fourth quarter performance. A Hanwha Solutions official said regarding the additional sale of development assets, “It is planned for the future and will be carried out within the year as it has been included in the fourth quarter performance,” adding, “It is difficult to disclose specific details at this time.”

By Soon-ki Lee(s8789@nspna.com) and Jeonghwa Choi(choijh@nspna.com)

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