Dongkuk Steel, Q3 Operating Profit 21.5 Billion KRW... 80% Decrease YoY

Dongkuk Steel recorded sales of 838.6 billion KRW, operating profit of 21.5 billion KRW, and net profit of 9.5 billion KRW in the third quarter, the company announced on the 25th. Compared to the previous quarter, sales decreased by 10.8%, operating profit by 46.9%, and net profit by 58.9%. Compared to the same period last year, sales fell by 22.3%, operating profit by 79.6%, and net profit by 84.0%.

Despite focusing on market supply-demand improvement measures such as ▲night shifts ▲shift changes ▲special production cuts amid a prolonged downturn in front-end industries like construction, Dongkuk Steel experienced continued demand shortages during the period, resulting in declines in both production and sales volumes in its core businesses of rebar and shaped steel. The thick plate segment also saw reduced sales due to increased imports into the domestic market.

In the third quarter, Dongkuk Steel concentrated on maintaining profitability through premium product development and enhancing export competitiveness. The company completed the development of a high-strength nuclear rebar with a yield strength of 550 megapascals (MPa), established a dedicated overseas sales organization, and achieved milestones such as obtaining JIS certification for general shaped steel and commencing commercial production and initial shipment of clad thick plates for the Qatar NFS project.

Amid the prolonged downturn in front-end industries, Dongkuk Steel plans to continue flexible plant operations aligned with demand in the fourth quarter to improve market supply and demand.

Based on its mid-to-long-term growth strategy 'Steel for Green,' Dongkuk Steel intends to continuously foster product competitiveness through ▲premium product development ▲acquisition of export certifications.

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