SONGWON Industrial Group reported its financial results for 2022. The group reported revenues of 297,610 million KRW during fourth-quarter 2022, marking a 5% increase (previous: 283,475 million KRW). In fourth-quarter 2022, the group achieved a net profit of 8,459 million KRW, a decline of -67.6% versus the prior year quarter (previous: 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 full-year 2021 (previous: 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 (previous: 71,209 million KRW). The gross profit margin of 22.7% for the financial year stood slightly higher than in full-year 2021 (previous: 22.3%).