In the 4th quarter of 2015, the consolidated sales of HUVIS amounted to KRW301.9 billion, while its operating profit resulted in KRW6.6 billion / Its operating profit increased by 406% YoY, and pre-tax profit and net income saw a turnaround
On February 4, Huvis (CEO Bae-keun Yoo, 079980), specializing in chemical materials, announced through its preliminary report on business performance that its sales are expected to amount to KRW301.9 billion, operating profit KRW6.6 billion and net income KRW6.3 billion in 4Q 2015. (consolidated)
 
The sales slightly declined YoY (Q4 2014), but its operating profit increased by 406%, while its pre-tax profit and net income saw a turnaround. Its sales are similar to those of the previous quarter (Q3 2015), when its operating profit and pre-tax profit decreased by 30% and 12% respectively, but its net income rose by 115%.
 
An official from Huvis said, “As the average oil price per barrel plunged from $92 in 2014 to $55 in 2015, our sales and operating profit decreased due to the structure of the chemical materials industry with high margin volatility driven by oil prices, and there was no significant change in the overall sales volume of Huvis.”
He added, “To reinforce our market leadership in the ever-intensifying materials industry, Huvis continuously created a product portfolio centered on high added value for 2016, and has been endeavoring to improve our profitability through market diversification by expanding the water treatment business of our Huvis Water subsidiary to overseas markets.”
 
Meanwhile, Huvis Water established the Vietnamese subsidiary of Huvis Water, ‘Huvis Water Vietnam,’ last January, and began to aggressively engage the Vietnamese water treatment market. Most recently, it won the contract for the treatment project for the dyeing industrial complex that will be constructed on a 600,000-pyeong (1,980,000㎡) lot. The construction period is expected to last 18 months and at a total cost of approximately $20 million.