Annual Report 2022

Publishing date: 17.03.2023

2022 was a turbulent year characterized by geopolitical and macroeconomic events. Despite the many challenges, SONGWON Industrial Group successfully navigated through the difficult market environment by exercising financial prudency and strong operational execution to achieve solid results for the year.

In FY 2022, SONGWON recorded strong overall consolidated sales of 1,329,509 Million KRW, 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%).

For more information, read the complete Annual Report 2022.