POSCO Holdings said on the 27th that it posted revenue of 17.261 trillion won and operating profit of 639 billion won in the third quarter this year. Compared with a year earlier, revenue fell 5.8% and operating profit fell 13.5%. Net profit for the same period was 387 billion won, down 22%. Compared with the previous quarter, operating profit increased by 32 billion won and net profit increased by 303 billion won.
POSCO recorded standalone operating profit of 585 billion won and an operating margin of 6.6%. Revenue declined from the previous quarter due to lower steel product prices, but operating profit rose as utilization increased.
POSCO FUTURE M increased both revenue and operating profit from the previous quarter as sales of cathode materials grew with the start-up of the precursor plant completed in Jun., and turned to a net profit. POSCO International recorded revenue of 8.2483 trillion won and operating profit of 315.9 billion won, down 11.6% and 1.3%, respectively, from a year earlier.
POSCO E&C saw operating profit decline as the estimated loss from the Shinansan Line accident was reflected in results and construction was suspended for safety inspections.