KG Steel, 3Q Operating Profit 75.7 Billion KRW... Up 18.9% YoY

[Asia Economy Reporter Donghoon Jeong] KG Steel announced on the 15th that it recorded consolidated cumulative sales of 3.0114 trillion KRW and operating profit of 294.6 billion KRW for the third quarter. Sales increased by 25.4% compared to the same period last year, and operating profit rose by 18.9%.

For the third quarter alone, KG Steel posted consolidated sales of 952.8 billion KRW and operating profit of 75.7 billion KRW. Sales increased by 4.1% compared to the same period last year, but operating profit decreased by 29.7%.

KG Steel cited the following reasons for the cumulative increase in scale and profit: ▲ reflection of raw material price increases in steel prices ▲ improved profitability through product mix enhancement ▲ development of overseas sales channels utilizing a global network.

Additionally, it explained that despite adverse conditions such as market fluctuations, it defended its performance through research and development (R&D).

In October, KG Steel launched 'BioCOT,' an EGI (electro-galvanized) interior steel sheet with antibacterial and antifungal properties. Furthermore, it recently completed the development of ultra-thin cold-rolled steel sheets with a thickness of only 0.14 mm, which are highly strong and have excellent workability, and plans to begin full-scale sales early next year.

KG Steel is also focusing on expanding the portfolio of its integrated color steel sheet brand 'X-TONE.'

In September this year, KG Steel became the first in Korea to develop the 'New Snow Matt' color steel sheet, which embodies snowflake crystals. Unlike existing products that showed simple repeated patterns, the New Snow Matt color steel sheet features fine snowflake patterns formed along irregular curves, creating a unique impression.

KG Steel, the only company domestically and internationally producing all types of cold-rolled steel sheets, has expanded its performance and improved its financial structure by supplying products to various downstream industries such as home appliances, automobiles, and building materials based on over 60 years of accumulated technology.

A KG Steel official stated, "We will continue active efforts to reflect the rising prices of raw materials such as hot-rolled steel (HR) coils, cold-rolled base plates (BP), and coatings in sales prices," adding, "We will also maintain a profitability-focused global sales channel improvement strategy."

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