Huvis (CEO Shin, You Dong 079980), specializing in chemical materials, announced on the 13th that it posted sales of 332.4 billion won, operating profit of 15.5 billion won and net profit of 8.4 billion won for 2Q 2018 (based on consolidated financial statements).

From a year earlier (2Q 2017), sales and operating profit rose 12.3% and 113.6% respectively, and pre-tax profit and net profit rose 87.3% and 75.5% respectively. For the first half of 2018, sales, operating profit and net profit all improved significantly, by 6.6%, 192.8% and 155.5% compared to 1H 2017.

“The rise in raw material prices that has lasted since early this year has led to the rise in selling prices, and the increasing exports resulting from a higher exchange rate and the U.S. decision of zero antidumping duties for LMF* has led us to see significant improvement in our profitability,” a Huvis official stated. “With the decision of de minimis dumping margins*, we have now been able to completely remove ourselves from the antidumping list and expect to be able to solidify our leadership in the U.S. market without having to respond to the antidumping list every year.”
Meanwhile, last June, U.S. decided to impose 0% antidumping duties on Huvis’ LMF, while imposing 16.27% on Toray Chemical’s and Taekwang Industrial’s and 49.93% on Taiwanese FENC’.