Hanwha Solutions Corp
KRX:009830
Hanwha Solutions Corp
Hanwha Solutions Corp. stands as a multifaceted powerhouse in the landscape of global business, a testament to South Korea's prowess in diverse industries. Originating from the esteemed Hanwha Group, this corporation encompasses an eclectic mix of sectors, notably renewable energy, chemical production, and advanced materials. At the heart of its operations is the solar energy division, Hanwha Q CELLS, which has propelled the company into the arena of clean energy solutions. This division specializes in the manufacturing and installation of solar modules and systems, where it leverages cutting-edge technology to deliver efficient and reliable photovoltaic products. By catering to both residential and commercial markets, Hanwha Solutions taps into a broad spectrum of energy needs, benefitting from the global shift towards sustainable energy sources.
Yet, the company is not solely defined by its solar endeavors. Its chemicals and advanced materials divisions play an equally vital role in its business model. Through these segments, Hanwha Solutions produces a diverse array of petrochemical products, including polyethylene and polyvinyl chloride, which are essential raw materials for countless industries ranging from packaging to construction. Additionally, the innovative materials division focuses on developing high-performance products that serve automotive and electronics industries, among others. This combination of sectors forms a robust revenue engine, allowing Hanwha to benefit from both traditional industrial demands and the burgeoning clean energy sector, ensuring a balanced and sustainable growth trajectory.
Hanwha Solutions Corp. stands as a multifaceted powerhouse in the landscape of global business, a testament to South Korea's prowess in diverse industries. Originating from the esteemed Hanwha Group, this corporation encompasses an eclectic mix of sectors, notably renewable energy, chemical production, and advanced materials. At the heart of its operations is the solar energy division, Hanwha Q CELLS, which has propelled the company into the arena of clean energy solutions. This division specializes in the manufacturing and installation of solar modules and systems, where it leverages cutting-edge technology to deliver efficient and reliable photovoltaic products. By catering to both residential and commercial markets, Hanwha Solutions taps into a broad spectrum of energy needs, benefitting from the global shift towards sustainable energy sources.
Yet, the company is not solely defined by its solar endeavors. Its chemicals and advanced materials divisions play an equally vital role in its business model. Through these segments, Hanwha Solutions produces a diverse array of petrochemical products, including polyethylene and polyvinyl chloride, which are essential raw materials for countless industries ranging from packaging to construction. Additionally, the innovative materials division focuses on developing high-performance products that serve automotive and electronics industries, among others. This combination of sectors forms a robust revenue engine, allowing Hanwha to benefit from both traditional industrial demands and the burgeoning clean energy sector, ensuring a balanced and sustainable growth trajectory.
Revenue Growth: Hanwha Solutions' Q4 sales rose 12% quarter-over-quarter to KRW 3,778.3 billion, and full-year 2025 sales increased 8% year-on-year to KRW 13,354.4 billion, largely driven by renewable energy initiatives.
Losses Widened: Operating loss grew in Q4, reaching negative KRW 478.3 billion, with full-year operating loss at negative KRW 353.3 billion, mainly due to renewable and chemical division headwinds.
One-off Impacts: Net one-off gains of about KRW 280 billion were recorded in Q4, after accounting for KRW 360 billion in one-off expenses and KRW 640 billion in gains—significantly impacting reported profitability.
Renewable Recovery Expected: Management expects the renewable energy division to return to profitability in Q1 2026, supported by higher module shipments, increased ASPs, and normalization of U.S. plant operations.
CapEx to Decline: Capital expenditures are set to decrease from KRW 1.9 trillion in 2025 to an expected KRW 1.2 trillion in 2026 as major U.S. solar investments wind down.
Positive Market Drivers: Rising module prices, reduced raw material VAT rebates in China, and anticipated U.S. policy support are expected to sustain solid ASPs and aid overall profitability.
