Annual Report 2014
Publishing date: 01.03.2015
Entering 2014 we knew that the overall economic situation was still uncertain and volatile, but had expected the economic recovery to gain some traction. Instead it has been a disappointing year for SONGWON Industrial Group.
Songwon delivered consolidated revenues of 665.5 Billion KRW with a 4% decrease year over year and a consolidated net loss of 13.4 Billion KRW. Key operational results were also affected with a Gross Profit after capacity variances of 13.3%, 6 points lower compared to last year. Our EBITDA was around 6% of sales — 6% percent lower than in 2013.