POSCO Holdings Drives Earnings Improvement with Eco-Friendly and Future Materials Profit Growth (Update)

"77.2 Trillion KRW Sales Target on Consolidated Basis This Year"
Investment Cost 8.9 Trillion KRW... Borrowings 21.4 Trillion KRW

[Asia Economy Reporter Oh Hyung-gil] POSCO Holdings announced on the 25th that its operating profit for the first quarter increased by 43.9% year-on-year to 2.3 trillion KRW.

The improved profits of key business companies in eco-friendly infrastructure and future materials, centered on POSCO International, drove the performance.

POSCO Holdings achieved sales of 213.38 trillion KRW, up 32.8% compared to the same period last year. Net profit rose 67.5% year-on-year to 1.9 trillion KRW.

In the steel sector, profits decreased due to reduced domestic sales volume and rising costs, but overseas demand response activities strengthened, resulting in solid profits.

POSCO, the steel company, recorded separate basis sales of 112.72 trillion KRW, a 44.5% increase year-on-year, and operating profit of 1.199 trillion KRW, up 11.7%.

POSCO Holdings Q1 Combined Performance

POSCO International achieved separate basis sales of 85.67 trillion KRW and operating profit of 116 billion KRW. The steel business division saw increased profits due to higher product sales and raw material prices, but the energy business division experienced a temporary decline in sales volume due to new production fields and platform connection construction, resulting in reduced profits.

POSCO Engineering & Construction recorded separate basis sales and operating profit of 18.04 trillion KRW and 94 billion KRW, respectively. Operating profit improved as profits increased mainly in the infrastructure and construction sectors.

POSCO Energy posted separate basis sales of 805 billion KRW and operating profit of 107 billion KRW. Entering the peak power season, the power generation sales price rose, improving profits. In the terminal division, profits increased due to domestic and overseas ship sea trials utilizing infrastructure and overseas sales of LNG (liquefied natural gas).

POSCO Chemical achieved separate basis sales and operating profit of 652 billion KRW and 25 billion KRW, respectively. Sales of cathode and anode materials increased, improving sales and profits, and sales also rose in refractory manufacturing maintenance and lime chemicals.

POSCO Holdings set a consolidated sales target of 77.2 trillion KRW for this year. Investment costs are projected at 8.9 trillion KRW, and borrowings are expected to be 21.4 trillion KRW.

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