SeAH Steel Holdings Achieves Record High Performance Last Year with Operating Profit Soaring 343% to 297.3 Billion KRW

North American Oil & Gas, Construction & Infrastructure
Sales Increase Due to Strong Domestic and International Demand
Rising Orders for Offshore Wind and LNG Projects
Focusing on Completing Future Portfolio for Energy Transition

[Asia Economy Reporter Donghoon Jeong] SeAH Steel Holdings has recorded its highest-ever performance.

On the 7th, SeAH Steel Holdings announced that its consolidated sales for last year reached 2.8457 trillion KRW, and operating profit was 297.3 billion KRW, representing increases of 23.4% and 343.1% respectively compared to the previous year. SeAH Steel's standalone sales amounted to 1.4974 trillion KRW (up 30.2%), and operating profit was 131.9 billion KRW (up 146.3%).

Strong demand in the North American construction and infrastructure industries, along with increased sales of key products such as energy steel pipes and piping materials, contributed to the results. Due to the worsening local supply chain bottlenecks, steel pipe prices remained strong, maintaining high sales and operating profit levels for the Americas sales corporation.

Steady demand in the domestic construction industry and the global home appliance industry's boom sustained high profitability of major products from subsidiaries, including piping materials (SeAH Steel), structural pipes (Donga Steel), and steel plates (SeAH CM).

SeAH Steel Holdings forecasted that "due to the strong international oil prices and the boom in the North American oil and gas industry, demand for well casing pipes and pipelines will continue to increase."

It added, "Anticipating the coming era of energy transition, we have been working on building an optimized future portfolio," and "this year, we plan to accelerate these efforts to seize future opportunities."

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