Huvis (CEO / Yoo, Bea Keun), the leading cutting-edge chemical and fiber materials company, announced through
its disclosure of potential results on the 29th that it is expected to achieve sales of KRW 353.6 billion, operating profit of KRW 12.7 billion, and current net income of KRW 8.5 billion in 2014 Q1.
While sales at Huvis showed a slight decrease year-on-year (2013 Q1), its operating profit and current net income increased significantly, by 64.0% and 85.5% respectively.
Compared to the previous quarter (2013 Q4) when the general slump in the chemicals industry dragged down its performance
, Huvis’ operating profit and current net income both showed a significant increase, rising by 97.0% and 10.1% respectively.
, Huvis’ operating profit and current net income both showed a significant increase, rising by 97.0% and 10.1% respectively.
“Exports of staple fibers increased with the recovery of demand in Europe and the increase in the production of bonding fiber LMF at the end of last year,” said a Huvis official. “The fact that we broke away from the intense competition for filament yarn in the domestic market and successfully switched our focus to the global market has enabled us to reap significant rewards, with a sharp increase in our exports to Turkey and China helping to bring about the recovery in our results.”
“We anticipate strong results in the second quarter as well, once our differentiated product portfolio strategy is factored into our performance,” said Huvis CEO Bae Keun Yoo. “We will do our best to enhance shareholder value by achieving our business goals for 2014.”
*LMF (Low melting Fiber) : Low melting fiber, No.1 in global sales, 45% market share