POSCO FUTURE M said on Jan. 29 that last year, on a consolidation basis, revenue fell 20.6% from a year earlier to 2.9387 trillion won, while operating profit jumped 4,451.5% to 32.8 billion won.
In the fourth quarter last year, revenue on a consolidation basis was 557.6 billion won, down 22.9% from the same period a year earlier. Over the same period, the operating loss widened to 51.8 billion won.
Last year, revenue in the battery materials institutional sector was 1.5741 trillion won, down 32.7% from a year earlier, and the operating loss was 36.9 billion won, similar to last year. Sales were sluggish due to the end of U.S. electric vehicle purchase subsidies and low-priced competition from Chinese anode materials.
In the basic materials institutional sector, last year's revenue was 1.3646 trillion won, similar to the previous quarter, and operating profit rose 85.4% year over year to 69.7 billion won. Operating profit improved due to higher refractory sales and improved profitability in the lime chemicals business.