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13 May 2025
SONGWON Industrial Group releases Q1/2025 financial results
SONGWON Industrial Group today released its financial results for the 1st quarter of 2025. The Group reported an increase in revenue of 7.8% in Q1/2025 (275,753 Million KRW) compared to sales generated in Q1/2024 (255,752 Million KRW). In the first 3 months of 2025, SONGWON delivered a gross profit of 40,743 Million KRW, marking an increase of 4.1% when compared to the gross profit achieved in the same period of the previous year (Q1/2024: 39,134 Million KRW). Net profit in Q1/2025 was 4,857 Million KRW, down from 6,662 million KRW in Q1/2024, primarily due to elevated labor costs following a recent court ruling in Korea that impacted companies operating in the country, as well as ongoing margin pressure.
Songwon Industrial Co., Ltd. announces the completion of a planned CFO succession, effective April 1st, 2025.
Songwon Industrial Co., Ltd., one of the largest manufacturers of polymer stabilizers in the world and a key global specialty chemicals player, will present its sustainable, high-performance coatings stabilizers at the European Coatings Show (ECS) 2025 in Nuremberg, Germany.
Leading specialty chemicals provider Perstorp completes its offer of C8-C10 Oxo Alcohols, by introducing Isononanol (INA), Iso-Dodecene and Oxo Oil 9N to the product portfolio. The new complete offer is made possible by utilizing synergies with Perstorp parent company PETRONAS Chemicals Group Berhad (PCG), one of the largest integrated chemicals producers in Southeast Asia and part of the PETRONAS Group. The plant has been operational since early August.