POSCO Reports 1Q Operating Profit of 1.5524 Trillion KRW...Improved Performance Across Steel and New Business Sectors

[Asia Economy Reporter Hwang Yoon-joo] POSCO announced on the 26th that its consolidated operating profit for the first quarter reached 1.5524 trillion KRW, an increase of 120.1% compared to the same period last year. During the same period, sales rose 10.5% to 16.0687 trillion KRW.

POSCO attributed the strong performance to improvements across all sectors, including steel, global infrastructure, and new growth areas. The steel division saw an increase in operating profit due to improvements in the global steel market, recovery in demand industries, and an expanded proportion of high value-added product sales. In particular, the overseas subsidiaries such as Krakatau POSCO, Zhangjiagang Pohang Stainless Steel, and POSCO Maharashtra also showed improved results.

The global infrastructure and new growth sectors demonstrated solid performance thanks to strong steel and food material trading at POSCO International, improved profits in POSCO Engineering & Construction’s building business, increased electricity unit prices at POSCO Energy, and expanded operating profit in the secondary battery materials business at POSCO Chemical.

On a separate basis, sales increased by 11.9% to 7.8004 trillion KRW, operating profit rose 134.2% to 1.0729 trillion KRW, operating profit margin was 13.8%, and net profit increased 110.2% to 952.2 billion KRW.

Additionally, the sales ratio of high value-added products, WTP (World Top Premium), rose by 2.8 percentage points from the previous quarter to 32.5%, driving separate operating profit to exceed 1 trillion KRW.

This content was produced with the assistance of AI translation services.