2 Mar 2023
SONGWON reports solid results for FY 2022
SONGWON Industrial Group (www.songwon.com) today reported its financial results for FY 2022. The Group achieved revenues of 297,610 Million KRW during Q4/2022, marking a 5.0% increase over the previous comparable quarter in 2021 (Q4/2021: 283,475 Million KRW). In Q4/2022, the Group achieved a net profit of 8,459 Million KRW, a decline of -67.6% versus the prior year quarter (Q4/2021: 26,100 Million KRW). SONGWON recorded strong overall consolidated sales of 1,329,509 Million KRW for FY 2022, a rise of 33.2% compared to the consolidated sales achieved for FY 2021 (998,190 Million KRW). The Group reported a net profit in 2022 of 131,932 Million KRW, marking an 85.3% increase compared to the full year 2021 (FY 2021: 71,209 Million KRW). The gross profit margin of 22.7% for the financial year stood slightly higher than in FY 2021 (22.3%).
22 Nov 2022
SONGWON announces new leadership appointments
Songwon Industrial Co., Ltd. (www.songwon.com/) announced today that it has appointed Hans Werhonig as Leader Group Commercial and a member of SONGWON’s Executive Committee from December 1st, 2022.
11 Nov 2022
SONGWON Industrial Group announces sound Q3 2022 results
SONGWON Industrial Group today published its financial results for the 3rd quarter of 2022. During the quarter, the Group achieved consolidated sales of 350,731 Million KRW and reported a net profit of 41,376 Million KRW. When compared to the sales (Q3/2021: 260,137 Million KRW) and net profit (Q3/2021: 20,972 Million KRW), recorded in previous year, this marked an increase of 34.8% and 97.3% respectively. In Q3/2022, SONGWON reported a slight decline in its gross profit margin of 1.8%-points compared to Q3/2021.
21 Oct 2022
SONGWON to support global plastic industry growth with continuous investments
Songwon Industrial Co., Ltd., the world’s 2nd largest manufacturer of polymer stabilizers and a key global player in the specialty chemicals business announces new strategic investments to support global plastic industry growth and to meet its needs.
19 Oct 2022
SONGWON K 2022 press kit
K is the world's largest trade fair for the plastics and rubber industry. It gathers the most important supplier of plastics and rubber machinery, raw and auxiliary materials and semi-finished products, technical parts and reinforced plastic products under one roof. It is an ideal platform to showcase products and innovations and to make business contacts. K will be followed by a special exhibition under the theme "Visions in Polymers", that presents the trends and innovations of the industry. Special consideration is given to the subjects of energy efficiency and resource conservation.
19 Oct 2022
SONGWON showcases its approach to mechanical recycling at K 2022
At the K 2022, Songwon Industrial Co., Ltd., the world’s 2nd largest manufacturer of polymer stabilizers and a key global player in the specialty chemicals business is showcasing its latest mechanical recycling stabilization approach for polyolefins (POs) and reaffirming its drive to deliver sustainable solutions to the industry.
12 Oct 2022
SONGWON launches new products at K 2022 highlighting its commitment to the industry
Songwon Industrial Co., Ltd., the world’s 2nd largest manufacturer of polymer stabilizers and a key global player in the specialty chemicals business highlights its ongoing commitment to the plastics industry with new product launches at K 2022.
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.
