Hanon Systems said in a filing on the 30th that, on a consolidation basis, it posted revenue of 2.7482 trillion won and operating profit of 97.1 billion won in the first quarter of this year on a preliminary basis.
Revenue rose 5% from a year earlier, and operating profit increased 361.1%. Net profit came to 67.4 billion won, swinging to a profit.
Hanon Systems said the performance reflects business structure improvements pursued after its acquisition by Hankook & Company Group.
Hanon Systems' first-quarter operating margin was 3.5% this year. It effectively extended the 3% range operating margin it had maintained since the second half of last year.
In particular, the share of revenue from the electrification segment, a future growth driver, was tallied at 29%. A Hanon Systems official said, "It is the result of flexibly responding to demand for internal combustion engine and hybrid models in line with the calibrated pace of electrification and to the effects of new electric vehicle launches."
Hanon Systems plans to roll out intelligent solutions that maximize energy efficiency, based on a portfolio spanning from internal combustion engines to hydrogen electric vehicles.
Vice Chairman and CEO Lee Soo-il said, "Building on our accumulated thermal management technology, we will accelerate qualitative growth by pursuing future new businesses such as AI-based integrated thermal management solutions, and we will strengthen our technology leadership by securing financial soundness from a long-term perspective."