POSCO Holdings Reports Operating Profit of 3.5314 Trillion KRW Last Year, Down 27% YoY

by Choi Seoyoon

Published 23 Jan.2024 18:31(KST)

POSCO Holdings announced on the 23rd that its consolidated sales for last year were 77.1272 trillion KRW, and operating profit was 3.5314 trillion KRW on a provisional basis.

Sales and operating profit decreased by 9% and 27.2%, respectively, compared to the previous year. Net profit for the period was 1.8322 trillion KRW, down 48.5% during the same period.

POSCO Holdings explained, "Operating profit declined due to a drop in steel prices caused by deteriorating domestic and international market conditions last year, as well as poor performance in the eco-friendly future materials division."

POSCO Holdings plans to announce its full-year and fourth-quarter business results for last year on the 31st.

POSCO Holdings Reports Operating Profit of 3.5314 Trillion KRW Last Year, Down 27% YoY