Hansol Paper's consolidated operating profit for the first quarter of this year decreased by 40% compared to the same period last year. However, it turned into a surplus compared to the previous quarter due to the write-off of construction receivables that occurred in the institutional sector at the end of last year.
On the 30th, Hansol Paper announced that its consolidated operating profit for the first quarter of this year was 20.338 billion won, a decrease of 40.1% compared to the same period last year. During the same period, sales rose to 575.596 billion won, an increase of 7.8%. This is attributed to a decrease in the proportion of sales in advanced markets due to economic slowdown and the rise in electricity prices.
However, both operating profit and net profit for the current term successfully turned into surplus compared to the previous quarter.
A representative of Hansol Paper noted, "In the first quarter of this year, results improved compared to the previous quarter, thanks to a recovery in demand for industrial paper, an increase in sales of thermal labels in the United States, and the rise in export exchange rates." He added, "In particular, the issue of write-offs in the institutional sector was resolved at the end of last year, and prices of key materials and supplies such as pulp and paper have stabilized, resulting in improved profitability in the paper sector."