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SONGWON Industrial Group announces Financial Results for Q2/2018

Ulsan, South Korea rking a decrease of 5.5%pts (without impact from application of K-IFRS 1115: 4.2%pts) compared to Q2/2017. In the two quarters of the year, the Group realized consolidated sales of 388,313 Mil. KRW which is a 7.4% increase over the first six months of 2017 (361,707 Mil. KRW).

During the first half year 2018, SONGWONaw materials.

Higher raw material costs and the negative influence of foreign currency fluctuations already experienced in 2017 and continuing in 2018 impacted all of SONGWONs throughout the quarter.

Heading into the third quarter of the year, SONGWON is optimistic that the trend established in the second quarter of 2018 will continue with an increase in demand for its products and ongoing growth. With its comprehensive portfolio of high-quality solutions and highly strategic position in South East Asia, the Group is uniquely positioned to take advantage of the expanding opportunities throughout Asia. Recognizing potential risks as a global player, SONGWON will remain cautious but continue to expand its global reach, and improve its financial performance by focusing on markets that offer attractive growth opportunities. The organization will also further leverage its innovation expertise to continue reliably providing the solutions its customers demand and value for.

The Q2/2018 Report can be downloaded at:

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