12 Aug 2022
SONGWON Industrial Group reports strong Q2 Financial Results
SONGWON Industrial Group today released its financial results for the 2nd quarter ending June 30, 2022. Building on the positive momentum of Q1/2022, the Group achieved consolidated sales of 342,735 Million KRW during Q2/2022 which when compared to Q2/2021, marked a 47.7% rise in revenue. The Group’s YTD June 2022 sales revenues (681,168 Million KRW) increased by 49.8% over the June YTD sales generated in 2021 (454,578 Million KRW). During the 6 months of 2022, the Group realized a gross profit margin increase of 5.2%-points to 25.5% compared to June YTD 2021.
13 May 2022
SONGWON delivers strong Q1/2022 financial results
SONGWON Industrial Group (www.songwon.com) today released its financial results for the 1st quarter of 2022. After a solid end to 2021, SONGWON started the new year strongly with sound growth and increased revenues. In Q1/2022, the Group achieved consolidated sales of 338,433 Million KRW and reported a robust 373.9% increase in net profit (43,427 Million KRW) over the same quarter the previous year (9,164 Million KRW). When compared to the 1st quarter of 2021, the gross profit margin in Q1/2022 increased from 21.6% to 29.4%. In Q1/2022, both EBITDA and EBIT margins increased respectively to 19.4% and to 17.0%.
5 Apr 2022
SONGWON at the American Coatings Show
Songwon Industrial Co., Ltd., is taking part in the American Coatings Show (ACS) at the Indiana Convention Center in the U.S. city of Indianapolis from April 5-7.
22 Mar 2022
SONGWON’s new electronic chemicals production line nearing completion
Songwon Industrial Co., Ltd. announced today that construction of its new electronic chemicals production line is nearing completion. Located at SONGWON’s Maeam plant in Ulsan, South Korea, construction is expected to be finished by the end of March, with startup planned thereafter.
18 Mar 2022
SONGWON announces new Chairman and changes to its Board
Songwon Industrial Co., Ltd., today announced that Mr. Dongbek Park was appointed as new outside Director of the Board of Directors at SONGWON’s Annual General Shareholders’ Meeting held in Ulsan, Korea, on March 18. In its subsequent Board meeting, the Board of Directors appointed Dongbek Park as SONGWON’s new Chairman of the Board.
2 Mar 2022
SONGWON delivers strong result for FY 2021
SONGWON Industrial Group today released its financial results for FY 2021. In Q4/2021, revenues continued to grow and totaled 283,475 Million KRW on December 31, 2021, marking a 39.1% increase when compared to the same quarter of 2020 (Q4/2020: 203,843 Million KRW). The net profit of 26,100 Million KRW for Q4/2021 amounted to a record 765.7% rise over the net profit achieved in the final quarter of 2020 (3,015 Million KRW). SONGWON ended 2021 strongly, achieving overall consolidated sales totaling 998,190 Million KRW, 23.6% higher than the previous year (FY 2020: 807,768 Million KRW).
10 Feb 2022
SONGWON announces departure of its Leader Group Commercial
Songwon Industrial Co., Ltd. today announced that Elena Scaltritti, Leader Group Commercial, will be leaving the organization to pursue another professional opportunity outside the SONGWON Group.
1 Dec 2021
SONGWON enters exclusive Coatings distributorship with TCL Hofmann for Australia and New Zealand
Songwon Industrial Co., Ltd., announced today that it has entered an exclusive distributor partnership with TCL Hofmann for its Business Unit (BU) Coatings.
19 Nov 2021
SONGWON invests in capacity expansion for semiconductor chemicals production
Today, Songwon Industrial Co., Ltd. announced that it is investing in expanding its chemical production capacity for semiconductors.
12 Nov 2021
SONGWON reports robust Q3 2021 results
SONGWON Industrial Group today released its financial results for the 3rd quarter of 2021. During Q3/2021, the Group achieved consolidated sales of 260,137 Million KRW marking a 33.2% rise in revenue over sales recorded in the same quarter of the previous year (195,237 Million KRW). The Group reported a net profit of 20,972 Million KRW for the 3rd quarter which was more than double the result achieved in Q3/2020 (8,746 Million KRW).
5 Oct 2021
SONGWON announces global price increases for its phosphorous based polymer stabilizers
Songwon Industrial Co., Ltd. today announced global price increases for its phosphorous based polymer stabilizer products to reflect the sudden rise in raw materials costs. The price increases are effective immediately for SONGWON’s phosphites antioxidants: SONGNOX® 1680, SONGNOX® 6260 and SONGNOX® PQ (including subsequent blends) as well as SONGSORB® 7120.
13 Aug 2021
SONGWON Industrial Group announces solid Financial Results for Q2/2021
Today, SONGWON Industrial Group published its audited Q2 and half-year financial results for the 2021 financial year. Over the quarter, the Group achieved consolidated sales of 232,091 Million KRW marking a 17.1% increase in revenue over the same quarter of the previous year. Year-to-date (YTD), the Group realized consolidated sales of 454,578 Million KRW, representing an 11.2% rise over YTD June 2020 (408,688 Million KRW), and recorded a net profit of 24,137 Million KRW delivering a 45.4% increase over the same reporting period in the previous year (YTD June 2020: 16,604 Million KRW). In addition, the Group’s gross profit margin achieved in Q2/2021 was 22.5% and YTD 22.0% reflecting an increase of 1.4%-points and 1.6%-points over the prior year comparable period.
