JESCO Holdings Achieves Cumulative Q3 Sales of 29 Billion Won, Surpassing Last Year's Quarterly Sales

JESCO Holdings announced on November 14 that its cumulative consolidated sales for the third quarter reached 29 billion won, a 40% increase compared to the same period last year. With this, the company has already surpassed last year's annual sales of 28.3 billion won.

A company representative explained, "The expansion of market share in the mild steel wire rod sector is directly translating into increased sales, and the recovery trend in downstream industries is further strengthening our core business competitiveness."

During the same period, the company maintained an improving trend in operating profit and notably turned a profit in gross profit, overcoming the deficit trend that had continued through the first half of this year. According to the company, internal restructuring strategies such as cost structure optimization, process optimization, and product portfolio adjustments are yielding tangible results.

The policy environment in the steel industry is also having a positive impact. Recently, the government has strengthened countermeasures such as expanding anti-dumping investigations to protect the steel industry, which has been struggling due to Chinese dumping, high tariffs, and sluggish domestic demand. Such policy support is contributing to price stabilization and supply-demand improvement in the mild steel wire rod market, serving as a factor supporting JESCO Holdings' performance recovery.

The Philippine nickel mine development project promoted by JESCO Holdings is also in the final stages of the approval process. Recently, a series of typhoons in the Philippines led the government to declare a national emergency, which caused delays in some administrative procedures. Restoration of the mining facilities related to the company’s project has already been fully completed, and all administrative applications required for the final approval have been submitted. The company has completed preparations for initial operations-including equipment and personnel deployment, logistics route checks, and simulations-and is conducting final inspections so that shipping and exports can begin immediately once the approval process is finished.

JESCO Holdings is now seeing both the recovery of profitability in its core steel business and progress in its new business ventures, indicating that company-wide structural improvements are gaining momentum.

A company representative stated, "The third-quarter results are not simply a rebound, but the outcome of structural stabilization centered on our main business and the expansion of our business portfolio, which are producing real improvements. Going forward, we plan to focus our capabilities on further strengthening profitability in the steel sector and commercializing the Philippine mining project."

Regarding the recent stock price fluctuations, the company emphasized that there are no issues concerning the largest shareholder’s stake or management rights. The company stated, "The recovery in our core business is clear, and the entire organization is making every effort to achieve visible results in new business as soon as possible. We will actively respond to market volatility caused by unfounded concerns and work to strengthen the company's fundamentals and management credibility."

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