KG Steel's Operating Profit Down 26% Last Year... "Value-Up Program Underway" (Comprehensive)

Operating Profit at 208.1 Billion KRW... Sales and Net Profit Also Decline
"Medium- to Long-Term Goals: Achieve ROE of 13% and Shareholder Return Ratio of 30%"

KG Steel announced on the 11th that its consolidated operating profit for last year was tentatively estimated at 208.1 billion KRW, a decrease of 25.78% compared to the previous year.

Sales declined by 3.72% to 3.3022 trillion KRW, and net profit also decreased by 39.88% to 141.4 billion KRW.

Operating profit for the fourth quarter of last year was recorded at 38.8 billion KRW, an increase of 14.52% compared to the same period last year.

Fourth-quarter sales amounted to 790.3 billion KRW, down 5.73% from 838.3 billion KRW in the same period last year.

At the conference call investor briefing held that day, KG Steel announced that it will promote value-up programs including strengthening shareholder return policies to enhance corporate value.

KG Steel has set medium- to long-term goals of achieving a return on equity (ROE) of over 13% and a shareholder return ratio of 30%. To realize this, the company plans to focus on improving profitability, promoting asset efficiency, and activating market communication.

A KG Steel official said, "Since net profit turned positive in 2020, we have expanded dividends and strengthened shareholder return policies," adding, "Through this value-up program, we will solidify investor trust and create substantial changes to enhance corporate value."

Meanwhile, KG Steel announced that it has decided on a year-end cash dividend of 250 KRW per common share. This represents a 25% increase from 200 KRW per share in 2023.

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