Hanwha Systems announced on the 27th that its preliminary consolidated operating profit for the third quarter of this year was tallied at KRW 99.15 billion. This represents a 60.5% increase from the same period last year, but a 19.1% decline compared to the previous quarter.

■ Quarterly Performance: Revenue Up, Net Profit Plunges

Revenue for the same period totaled KRW 831.598 billion, up 30.1% year-on-year, though down 6.3% from the previous quarter's KRW 887.153 billion.

Profit from continuing operations before corporate tax expenses came to KRW 133.704 billion, down 1.1% from the same period last year but up 85.8% from the previous quarter.

In contrast, third-quarter net profit was only KRW 3.837 billion, a sharp 97.5% drop year-on-year and a 92.7% decline from the previous quarter. Net profit attributable to owners of the parent company stood at KRW 3.8602 billion, down 74.4% year-on-year and 42.5% from the previous quarter.

■ Cumulative Performance: Revenue and Operating Profit Up, Swung to Net Loss

Cumulative revenue for the first through third quarters of this year reached KRW 2.3636 trillion, up 29.0% from the same period last year. Cumulative operating profit rose 64.7% year-on-year to KRW 302.429 billion.

However, cumulative profit from continuing operations before corporate tax expenses fell 51.7% year-on-year to KRW 136.443 billion. The cumulative net loss for the period was KRW 39.172 billion, swinging from a profit of KRW 221.232 billion in the same period last year. Cumulative net profit attributable to owners of the parent company was KRW 5.0705 billion, down 76.9% year-on-year.

■ Preliminary Results Pending Audit Completion... Subject to Change

Hanwha Systems stated that these figures are preliminary consolidated results prepared in accordance with Korean International Financial Reporting Standards (K-IFRS). As they are based on internal closing data before the completion of the external auditor's accounting audit, the company explained that they may be changed depending on the audit results.