Annual Report 2012
Publishing date: 01.03.2013
2012 has been an excellent year for SONGWON. We delivered consolidated revenues of 679.7 Billion KRW (636.8 Million US$) with an increase year on year of 8.1% and a consolidated net profit of 20.5 Billion KRW (19.2 Million US$), an increase of 103.9% compared to 2011. These results have been driven by our continued focus on organic growth in combination with the successful integration of SONGWON Additive Technologies Greiz GmbH (formerly Additive Technology Greiz) which we acquired at the end of 2011. I am extremely satisfied with the execution of our organic growth plan, especially when set in the context of a global economic and financial crisis which started in 2011 and became even more severe during the course of 2012, particularly in Europe. The crisis has impacted global GDP and also affected emerging economies which seemed immune to the situation for some time. These achievements are a ređection of our solid foundation and the strength of our business, together with our continued effort to focus on strategic goals to understand and anticipate customer needs and to deliver superior performance in terms of quality and service. These results, delivered under the most difficult and volatile economic conditions, put us in an excellent position to achieve our future ambitious growth and profitability goals.