POSCO Holdings Q2 Operating Profit 1.326 Trillion KRW... 88% Increase from Previous Quarter

POSCO Holdings has recovered quarterly operating profit to the 10 trillion KRW level through the full operational normalization and sales normalization of POSCO Pohang Steelworks.

On the 24th, POSCO Holdings announced that it posted consolidated sales of 20.121 trillion KRW, operating profit of 1.326 trillion KRW, and net profit of 776 billion KRW for the second quarter of this year.

Sales increased by 3.8% compared to the first quarter of this year. In particular, operating profit surged by 88.1% starting from the second quarter due to the full-scale normalization of steel production and sales following the completion of flood recovery at Pohang Steelworks earlier this year.

Compared to the second quarter of last year, which showed a temporary global steel market boom and rising sales prices following the COVID-19 pandemic, consolidated sales and operating profit decreased by 12.6% and 36.8%, respectively. However, these figures exceeded the average quarterly performance since 2020.

POSCO announced plans to respond to future industrial changes to strengthen global steel competitiveness by targeting the production of 10.5 million tons of low-carbon products by 2030 and expanding the domestic and overseas production system of 1 million tons of electrical steel sheets for eco-friendly vehicle drive motors.

Meanwhile, the total market capitalization of the six listed companies in the POSCO Group surpassed 100 trillion KRW as of the closing price on the 21st.

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