Songwon Industrial Group concludes 2013 with strong Q4 growth and solid full year financial results
Highlights
• Sales growth of 1.8% in 2013 compared to 2012
• Net profit of 22,927 Mil. KRW, an increase of 12.1% versus 2012
• Strong performance in core business Polymer Stabilizers, growing 12.5% year over year
(firmenpresse) - Ulsan, Korea - March 7, 2014 - Songwon Industrial Group (www.songwon.com) is pleased to announce that sales and profits continued to grow in Q4 2013, contributing to overall growth for the full year. Sales revenues reached 169,062 Mil. KRW for the fourth quarter, an increase of 11.5% on Q4 2012, contributing to total sales of 692,164 Mil. KRW for the full year 2013, an increase of 1.8% compared to 2012.
Net profits of 6,378 Mil. KRW in Q4 2013, up 59.7% on the same quarter of 2012, contributed to a 12.1% increase in profits for the full year to 22,927 Mil. KRW. The Q4 Report and the Annual Financial & Sustainability Report 2013 can be downloaded at: www.songwon.com/en/investors/financialresults.
The 2013 results will be discussed and commented at Songwon’s second annual Investor Relations day taking place on March 7th in Ulsan, Korea. For further information please visit: www.songwon.com/en/investors/events.
Hans-Peter Wüest, Chief Financial Officer and Member of the Songwon Industrial Group Executive Committee, stated: “The steady progress we made during the past years continued in 2013. We delivered consolidated revenues of 692 billion KRW (655 million USD) in 2013, an increase of 1.8% on 2012 driven by organic growth and despite the discontinuation of certain products. Our consolidated net profit of 23 billion KRW (22 million USD) increased by 12.1% compared to 2012. Our core business Polymer Stabilizers provided the engine for growth in 2013 with revenues up 12.5% over 2012. This strong performance is based on a particulary strong growth of the new HALS and thioester product groups based on back-integration (joint venture with Tangshan Baifu) and distribution agreements (Sabo).”
Jongho Park, Chairman, CEO and Head of the Songwon Industrial Group Executive Committee, said: “We have once again delivered positive results during a year of economic uncertainty and this reflects our ongoing ability to deliver organic growth. We also exited several business activities that we judged unsatisfactory in terms of competitiveness, sustainability and desired returns. As a result, the growth of our underlying core business was significantly higher than the 1.8% we have shown overall. These achievements validate our continued efforts to focus on our strategic goals, to anticipate and understand customer needs, and to deliver superior performance in term of quality and service.”
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About Songwon Industrial Co., Ltd.
Songwon Industrial Co., Ltd. is a leading producer and seller of SONGNOX® Antioxidants, SONGNOX® One Pack Systems, SABO®STAB Hindered Amine Light Stabilizers, SONGSORB® Ultraviolet Light Absorbers, SONGXTEND™ Stabilizer Solutions, SONGSTAB™ Acid Scavengers, SONGSTAB™ PVC Stabilizers, SONGCAT™ Tin Intermediates, SONGCIZER™ Plasticizers for the plastics industry, as well as lubricants, surface coating agents, polyurethane, alkyl phenols, flocculants and other chemicals. The Songwon Group of Companies includes Songwon Industrial Co., Ltd., Songwon Holdings AG, Songwon International AG, Songwon International – Japan K.K., Songwon China Ltd., Songwon Industrial Co. Ltd. Representative Office Bahrain, Songwon Additive Technologies AG, Songwon Additive Technologies-Americas Inc., Songwon ATG GmbH, Songwon International – Americas Inc., Songwon International – India Pvt. Ltd., Songwon Trading Co. Ltd, Songwon Chemicals Co. Ltd. and Songwon Baifu Chemicals (Tangshan) Co., Ltd., Songwon Additive Technologies - Middle East FZE, Polysys Additive Technologies – Middle East LLC and Chemservice Asia Co. Ltd.
SONGNOX and SONGSORB are registered trade marks of Songwon Industrial Co., Ltd.
SONGCAT, SONGCIZER, SONGSTAB and SONGXTEND are trade marks of
Songwon Industrial Co., Ltd.
SABOSTAB is a registered trade mark of Sabo S.p.A.
Salient in Additives
Salient from the Latin Verb ‘salire’ to leap or leaping. As an adjective, meaning the most noticeable, prominent or important. Salient Songwon, leaping ahead in the world of Polymers; a prominent global supplier of chemical additives.
Marketing Solutions
Kevin Noels
P.O. Box 58
4600 AB Bergen op Zoom
The Netherlands
Tel: +31 164 317 011
E-mail: info(at)marketingsolutions.be
Marketing Solutions
Kevin Noels
P.O. Box 58
4600 AB Bergen op Zoom
The Netherlands
Tel: +31 164 317 011
E-mail: info(at)marketingsolutions.be
Datum: 07.03.2014 - 05:07 Uhr
Sprache: Deutsch
News-ID 1294774
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contact information:
Contact person: Kevin Noels
Town:
Ulsan
Phone: +31164317011
Kategorie:
Chemical industry
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Marketing Solutions
Kevin Noels
P.O. Box 58
4600 AB Bergen op Zoom
The Netherlands
Tel: +31 164 317 011
E-mail: info@marketingsolutions.be
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