SeAH Steel Holdings Co., Ltd. Reports Q3 Operating Profit of 123.8 Billion KRW, Down 28.5% Year-on-Year

SeAH Steel Holdings announced on the 14th that its consolidated operating profit for the third quarter was 123.8 billion KRW, a 28.5% decrease compared to the same period last year.

Sales revenue fell 6.2% to 942 billion KRW, and net profit for the period decreased by 29.5% to 92 billion KRW.

SeAH Steel Holdings explained, "The prices of oil and gas pipes for the North American energy sector, which had been maintained at a high level, have been adjusted, leading to a decline in sales revenue and operating profit." However, they added, "Due to steady demand within the North American market, high sales volume was maintained, so the decrease in sales revenue was limited."

SeAH Steel Holdings stated, "Although operating profit decreased compared to the previous year, we expect performance to gradually recover based on stable supply chains of our global production subsidiaries in Korea, the United States, and Vietnam." They also said, "We will respond agilely to the changing market conditions."

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