[Special Stock] POSCO International Surges Over 10% on Record Q1 Sales

[Asia Economy Reporter Ji Yeon-jin] POSCO International is showing a sharp rise in the KOSPI market on the 26th. Improved first-quarter earnings this year have pushed the stock price up by nearly 10%.

As of 9:55 a.m. on the day, POSCO International is trading at 21,700 KRW, up 9.60% from the previous day. Early in the session, it surged to 22,100 KRW.

The company’s first-quarter sales reached 7.1 trillion KRW, a 28% increase compared to the previous year. Growth in the steel sector led to the highest quarterly sales ever. Trading performance rapidly improved due to the recovery of trade conditions and rising prices of key raw materials, and structural growth was observed due to the unification of group marketing channels.

Operating profit recorded 126.9 billion KRW, down 13% from the previous year. Although steel achieved the highest quarterly profit with maintained margins amid steep growth, the energy infrastructure sector underperformed as the recovery rate of investment costs in the Myanmar gas field declined. Yuje-seon, a researcher at Hana Financial Investment, said, “The first-quarter operating results met market expectations,” adding, “If the investment cost recovery rate in the Myanmar gas field normalizes, the impact of price increases will be reflected in earnings from the third quarter.”

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