19 Jan 2024
SONGWON announces price increase and freight surcharge for Polymer Stabilizers and Coatings
Songwon Industrial Co., Ltd. announced today that it is implementing a price increase and adding a freight surcharge on its Polymer Stabilizers and Coatings products in response to the impacts on costs and lead times caused by the current global logistics situation.
14 Nov 2023
SONGWON announces Q3 2023 financial results
SONGWON Industrial Group today released its financial results for the 3rd quarter of 2023. During Q3/2023, the Group achieved consolidated sales of 247,867 Million KRW marking a decline in revenue over sales generated in the same quarter of the previous year (350,731 Million KRW). In the 3rd quarter, SONGWON reported a gross profit margin of 14.7% (Q3/2022: 21.9% Million KRW) and a drop in net profit to 9,372 Million KRW when compared to the 3rd quarter in 2022 (41,376 Million KRW).
12 Sep 2023
SONGWON announces new Leader Business Unit Coatings
Songwon Industrial Co., Ltd. is pleased to announce the appointment of Steffen Dobberstein as the new Leader Business Unit (BU) Coatings effective September 11th, 2023.
11 Aug 2023
SONGWON Industrial Group announces Q2/2023 Financial Results
Today, SONGWON Industrial Group published its Q2 and half-year financial results for the 2023 financial year. Over the quarter, the Group achieved consolidated sales of 269,232 Million KRW marking a decrease in revenues over the same quarter of the previous year of 21.4% (342,735 Million KRW). Year-to-date (YTD), the Group realized consolidated sales of 536,399 Million KRW, representing a 21.3% decline over YTD June 2022 (681,168 Million KRW) and recorded a drop in net profit to 22,582 Million KRW (Q2/2022: 82,097 Million KRW). The Group’s gross profit margin achieved in Q2/2023 was 16.4% and YTD 15.9 % reflecting a decrease of 8.3%-points and 9.6%-points over the prior year comparable period.
26 Jun 2023
SONGWON enters exclusive partnership with KRAHN Italia for Coatings
Songwon Industrial Co., Ltd., the 2nd largest manufacturer of polymer stabilizers in the world and global specialty chemicals player, is pleased to announce that it has entered a distribution partnership with KRAHN Italia S.p.A. for its Business Unit (BU) Coatings.
12 May 2023
SONGWON Industrial Group releases Q1/2023 financial results
SONGWON Industrial Group (www.songwon.com) today released its audited financial results for the 1st quarter of 2023. The Group reported a decline in revenue of -21.1% in Q1/2023 (267,167 Million KRW) compared to sales generated in Q1/2022 (338,433 Million KRW). SONGWON’s gross profit margin in the first 3 months of 2023 was 15.4%, a decrease of -11%-points when compared to the same period of the previous year (26.4%). Net profit in Q1/2023 was 10,626 Million KRW, lower than in Q1/2022 (43,427 Million KRW).
17 Apr 2023
SONGWON demonstrates industry commitment at Chinaplas 2023 with its newest high-performance solutions
Songwon Industrial Co., Ltd., the 2nd largest manufacturer of polymer stabilizers in the world and a key global specialty chemicals player, is showcasing the newest additions to its broad portfolio of high-performance solutions at Chinaplas 2023 in Shenzhen, China from April 17th – April 20th.
28 Mar 2023
SONGWON showcases its coatings strength with new product releases at the European Coatings Show
SONGWON Industrial Group (www.songwon.com), the 2nd largest manufacturer of polymer stabilizers in the world and global specialty chemicals player, continues to demonstrate its firm commitment to the coatings industry with the expansion of its comprehensive portfolio of high-performance coatings products and blends.
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.
