Huvis (CEO: Shin You Dong, 079980), specializing in chemical materials, announced on the 17th in its corporate performance disclosure that the company posted 264.1 billion won in revenue in 2Q, 2021, 10.1 billion won in operating income, and 7.4 billion won in net income in the current period, adding that the cumulative revenue in the first annual half had reached 521.3 billion won, with operating income at 19.7 billion won and net income of the current period at 16.5 billion won (as reported in consolidated financial statements).
 
Revenue jumped 33% as reported in consolidated financial statements when compared with the same period of the previous year (2Q, 2020) whereas operating income dropped 33%. When compared with the previous quarter (Q1, 2021), revenue and operating income rose 3% and 5% respectively.
 
Revenue declined in Q2, 2020 due to falling raw material prices, the COVID-19 pandemic, and production slumps in major export destinations before it began to rebound this year thanks to increasing demands for LMF (low-melting fiber) for automotive interior components/filters, etc. in the wake of the global economic recovery. However, operating income is analyzed to have slipped when compared with the same period of the previous year due to logistics challenges aggravated by rapidly rising shipping charges and congestion in seaports in response to an increase in global shipments.
 
A source at Huvis commented, “Major export destinations such as the United States and the EU are still struggling with a shortage of shipping capacity, but expanded sales of the S.H.E. (safety, health and environment) product lineup encompassing materials for healthcare/sanitary supplies, industrial filters, recycled materials from PET bottle wastes, and material capable of being bidegraded when reclaimed underground and commercialized this year will further strengthen the global competitive edge of Huvis.”