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SONGWON reports solid results for FY 2022


SONGWON Industrial Group 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%).

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