SeAH Besteel Holdings' Operating Profit Reaches 196.1 Billion KRW Last Year, Up 53%
SeAH Besteel Holdings announced on the 6th that its operating profit on a consolidated basis for last year was tentatively estimated at 196.1 billion KRW, a 53.3% increase compared to the previous year.
Net profit also rose 44.2% year-on-year to 127.3 billion KRW, while sales decreased by 6.9% to 4.0836 trillion KRW.
SeAH Besteel Holdings explained, "Although sales decreased compared to the previous year due to a decline in sales volume caused by weakened demand in downstream industries in the second half, operating profit increased thanks to a flexible pricing policy and a strategy to expand sales of high value-added products."
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SeAH Besteel Holdings stated, "Geopolitical risks continue due to worsening conditions in the Middle East, and a challenging external environment is expected due to global low growth including China. We will focus company-wide capabilities in sales, production, quality, and research to strengthen competitiveness through the development of eco-friendly new products and advancement of product quality, and will promote a transition to a customer- and market-centered management system."
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