In a regulatory filing on the 30th, Hanon Systems said its first-quarter operating profit on a consolidated basis was 97.2 billion won, up 361.1% from a year earlier on a preliminary tally.
Revenue rose 5% to 2.7482 trillion won. Net profit was 67.5 billion won, returning to the black.
The company said the performance reflects companywide restructuring efforts pursued since its acquisition by the Hankook & Company Group.
Hanon Systems has maintained an operating margin in the 3% range since the second half of last year and posted a 3.5% margin in the first quarter, citing improved cost ratios and greater operating efficiency.
Electrification, a key growth area, accounted for 29% of revenue, putting it close to surpassing 30% of total sales. The company said it responded flexibly to demand for internal-combustion and hybrid models, as well as the impact of new electric-vehicle launches.
It said further revenue growth is expected this year, driven by European customers expanding electrification and rising demand for hybrids.
Based on a full-line portfolio spanning internal-combustion vehicles to hydrogen fuel-cell electric vehicles, the company said it plans to introduce intelligent solutions that apply artificial intelligence to maximize energy efficiency.
Vice Chairman and CEO Lee Soo-il said, "Based on our accumulated thermal management capabilities, we will accelerate qualitative growth by pursuing future new businesses such as AI-based integrated thermal management solutions, secure long-term financial soundness, and strengthen our technology leadership in the global market."
* This article has been translated by AI.
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