Hanssak said on the 24th that on a consolidation basis, operating profit in the second quarter turned to a surplus at 800 million won from a loss a year earlier. Revenue for the same period rose 44% to 7.6 billion won.
For the first half cumulatively, revenue increased 17.4% year over year to 11.1 billion won, and operating profit turned to a surplus at 1.3 billion won.
The rebound in results was driven by new solutions released through continuous research and development (R&D), including CDS, integrated access control, password management, SSL visibility, and one-way transfer. The virtualization division acquired last year also contributed to the increase in consolidation revenue. The electronic fax division of subsidiary Incom also posted revenue above the break-even point, helping to improve profitability.
Hanssak has diversified its business portfolio in recent years around network, system, and data security and artificial intelligence (AI) solutions. The company believes the results of this business restructuring have begun to be reflected in earnings in earnest.
Hanssak plans to push for revenue growth in the second half based on new solution supply and policy-driven demand. It will target the public and financial markets on the back of the security function verification certificate for the SSL visibility solution "BlueKeen VA" and its registration with the Public Procurement Service. With the number of customers increasing since launch, the company expects it will contribute to second-half results.
It will also respond to the transition to the National Network Security Framework (N2SF) being promoted by the National Intelligence Service. It plans to upgrade key security solutions to meet N2SF requirements and target related market demand. It will also work to secure next-generation security technologies. In preparation for the commercialization of quantum computers, it is applying related technologies to its own solutions in line with domestic standardization trends for post-quantum cryptography (PQC).
As second-half revenue has accounted for about 60% to 70% of annual revenue in recent years, Hanssak plans to focus on achieving its annual performance targets through new solution supply and orders in existing businesses. It projected that even after reflecting expected expense from the annual business investments of two subsidiaries, it will post results above the break-even point on a consolidation basis.
Chief Executive Lee Judo of Hanssak said, "Since our KOSDAQ listing, we have expanded investment in research and development to secure future growth engines, and as the diversification of our security solution portfolio has been reflected in results, we succeeded in turning a profit in the second quarter," adding, "In the second half, when revenue is concentrated, we will strengthen competitiveness in next-generation security areas such as PQC, AI, and cloud to maintain the profit trend."