.gif)
Huvis (CEO / Yoo, Bea Keun), a leading cutting-edge chemical & fiber materials company, disclosed on the 26th details of its yearly results to-date, with third quarter total sales reaching 315.2 billion won, operating profit at 14.9 billion won and 11.8 billion won in net profit. The positive figures in operating profit and net profit came despite the overall difficult business environment facing the chemical fiber industry, not least down to global economic uncertainty and fluctuations in the Won exchange rate.
For the quarter, the company estimated that total sales had reduced by 7.8%, a contrast with operating profit and net profit, which represented a year-on-year increase of 6.5% and 21%, respectively.
A Huvis official said “since June, the continuing slide of international oil prices has seen raw materials’ prices stabilize, causing a reduction in product sale prices, with total sales suffering a slight decline. Despite this, in terms of sales volume, there has been no change compared to the previous year. On the contrary, there has been a slight upturn in sales, thanks to a lineup featuring more high-value added differentiated products. In addition, the zero debt management policy has improved the company’s financial soundness, shown most clearly in the year-on-year increase of 6% in terms of operating profit and with EBITDA up by 56%.”
Actually, the company’s operating profits has consistently remained on the positive side of 5%, a clear demonstration of its differentiated strategy starting to bear fruit in terms of improved profitability.
Huvis maintains a 70%+ differentiation rate for staple fibers, centered around its Low Melting fiber. This product alone has become a high-quality global product, responsible for 40% of the total global market share. In addition, the company leads the domestic differentiation market for filament fibers targeting the high performance outdoor wear market.