- 6,925.7 billion won in sales and 410.4 billion won in operating profit
On February 18, the Company announced its management results for 2008, i.e. 6,925.7 billion won in sales and 410.4 billion won in operating profit, a 27.7% and 72.1% year-on-year increase, respectively.
The Power & Industrial Systems PG, in particular, posted 1,372.0 billion won in sales and 178.9 billion won in operating profit. The conspicuous performance is attributable to the efforts for diversification of markets, including the U.S., the Middle East, India and South America and for enhancement of profitability through improvement of technological level and production efficiency.
The Industrial Materials PG also posted a robust result, i.e. 884.6 billion won or a 23.5% year-on-year increase in sales and 92.2 billion won or a 479.9% year-on-year increase in operating profit on the back of heightened export competitiveness and the commencement of the operation of the tire cord factory in Vietnam.
The Chemicals PG posted 1,049.3 billion won or a 30.7% year-on-year increase in sales and 69.1 billion won or a 17.7% year-on-year increase in operating profit on the strength of an increase in specialty products, such as polypropylene, enhanced production efficiency and improvement in the performance of the film business.
Commenting on the Company’s performance in 2008, Vice President Yoon Bo-young said, “We will continue to develop growth engines, i.e. new hi-tech materials, such as aramid and TAC film, environmentally-friendly items, such as renewable fibers and highly efficient motors, and new renewable energy, such as wind power and photovoltaic energy.”
