The company estimated that sales had reduced by 6.4% compared to the level achieved in 2011, which was reportedly 1.6692 trillion won. In addition, operating profit of 58.7 billion won and net profit of 52.6 billion won was reported, representing a year-on-year decrease of 14.5% and 24.8%, respectively.

 

“In 2012, the continuation of the overall global financial crisis, increasing volatility in raw material prices and the intensifying oversupply phenomenon of FY (Filament Yarn) in the domestic market has led to a string of poor results posted across the chemical fiber industry as a whole, “a HUVIS official reported. “HUVIS has been able to maintain stable sales and profit and achieve firm performance results thanks to our company’s differentiated product portfolio when compared to other local competitors.”

 

In terms of SF (Staple Fiber), the LM (Low Melting) fibers, which are together responsible for 40% of the global market share, there was a strengthening of differentiation in product market control towards the end of 2011. This was realized through the expansion of production capacity, driving to an annual production volume of 180,000 tons and ultimately realizing over 7% profit, way in excess of the previous year. Furthermore, in the case of FY (Filament Yarn), the company has been actively targeting the sports casual wear and emotional apparel markets to place a higher emphasis on differentiated products. In addition, an increase in sales in focus markets such as Turkey is expected in 2013, especially with the upcoming Turkish FTA coming into effect.