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Q1 operating profit 357.5 billion won
KOSPI-listed POSCO International [047050] announced on the 30th that its consolidated operating profit for the first quarter of this year was tentatively tallied at 357.5 billion won, a 32.3% increase compared to the same period last year.
This operating profit exceeded the market forecast of 316.3 billion won compiled by Yonhap Infomax by 13%.
POSCO International stated that it achieved its highest quarterly operating profit since its merger with POSCO Energy in 2023, as profits from its major businesses were stably generated.
Revenue increased by 3.1% compared to the same period last year, reaching 8.4104 trillion won. Net profit increased by 36.1% to 277.3 billion won.
In the energy sector, as the production increase effect of Australia's Senex Energy materialized, sales volume and profitability both rose, leading to an operating profit of 31.3 billion won, a 230% increase compared to the same period last year.
In the materials sector, steel operating profit increased by 19.7% to 59.8 billion won. This was due to securing demand in advance of the restructuring of Europe's Tariff Rate Quota (TRQ) and expanding sales of drive and electrical components.
However, in the materials bio sector, operating profit decreased by 18.2% to 19.6 billion won due to a decrease in domestic steel raw material sales.
In the food sector, with the effect of the incorporation of new Indonesian palm oil plantations, revenue increased by 135.8% to 169.6 billion won, and operating profit increased by 10.2% to 33.4 billion won.
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