Leap of Hanwha Corp

Hanwha Corp. rose by 52 notches in Global 500 by US business magazine Fortune in one year.
Hanwha Corp. rose by 52 notches in Global 500 by US business magazine Fortune in one year.

 

Hanwha Corp. rose by 52 notches in Global 500 by US business magazine Fortune in one year. The sharp jump was because companies Hanwha Corp. took over from Samsung last year performed well and its defense and solar power business is sailing smoothly, sparking a surge in its total sales. The Hanwha Group announced on July 24 that Hanwha Corp. placed 277th in the Global 500 standings of 2016 selected by Fortune. This is a rise of 52 notches from last year. Thus, the company recorded the sharpest rise among Korean companies on the Global 500 list. 

The standings are global brand indicators announced by Fortune based on sales since 1990.  Hanwha Corp. posted 37.5 trillion won in sales in 2015 and 41.4 trillion won in sales in 2016, respectively, resulting in an increase in sales.

Hanwha Corp. explained that the company’s M&As last year significantly drove up its sales.  Hanwha Total, Hanwha General Chemical, Hanwha Techwin and Hanwha Thales acquired from Samsung has been recording strong sales and good performances. 

Hanwha Total has been maintaining high margin as ethylene prices have not dropped despite low oil prices. Hanwha Chemical posted operating profits while recording a surplus last year although the company had gone through ups and downs before being taken over by the Hanwha Group. 

Hanwha Techwin is enjoying brisk business thanks to an increase in engine production and more engine orders and stable mass-production and export of K9 self-propelled guns in the defense industry. Hanwha Thales is showing high performances mainly in radars, electro-optical equipment, tactical communication systems, combat command systems and fire control equipment and others which are like the brain and sensory organs of the military arms system. In May, Hanwha Defense jointed the Hanwha Group.

 

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