SeAH Besteel Holdings said on the 9th that, on a consolidation basis, last year's operating profit was provisionally tallied at 102.4 billion won, up 95.6% from a year earlier.
Revenue for the same period was provisionally tallied at 3.6522 trillion won, up 0.4%, and net profit was 61.7 billion won, up 204.3%.
While core affiliate SeAH Besteel underperformed, SeAH Changwon Integrated Special Steel and SeAH Aerospace and Defense improved their results, lifting overall performance.
On a separate basis, SeAH Besteel's operating profit last year was provisionally tallied at 32.1 billion won, down 6.6% from a year earlier. Revenue in the same period was 2.008 trillion won, down 1.2%, and net profit was 39 billion won, up 52.9%.
On a separate basis, SeAH Changwon Integrated Special Steel's operating profit last year was tallied at 53.9 billion won, up 789.6% from a year earlier. Revenue was 1.3991 trillion won, down 2.7%, and net profit was 31.8 billion won, up 583.6%.
On a separate basis, SeAH Aerospace and Defense's operating profit last year was provisionally tallied at 24.6 billion won, up 39% from a year earlier, and revenue was 128.7 billion won, up 22%, with both revenue and operating profit increasing. Net profit in the same period was 20.2 billion won, up 20.1%.
A SeAH Besteel Holdings official said, "Operating profit increased due to factors such as the base effect from expanded sales of high value-added products and the reflection of one-off costs including the 2024 ordinary-wage provision," but added, "As global protectionism intensifies and unfavorable business conditions persist, including a slump in domestic downstream industries and an influx of low-priced Chinese imports, sales volume of commodity products has decreased."