SeAH Steel Holdings said on the 6th that its operating profit on a consolidation basis last year was tentatively tallied at 205.8 billion won, down 2.7% from a year earlier.
During the same period, revenue rose 2.3% to 3.7596 trillion won, while net profit was tallied at 97.8 billion won, down 16.5%.
During the same period, SeAH Steel's standalone operating profit fell 74.3% to 51.9 billion won, and revenue decreased 23.2% to 1.3721 trillion won. Net profit also decreased 68% to 41.6 billion won.
SeAH Steel Holdings said weakness in its domestic business was affected by sluggish domestic demand and steel tariff measures in the United States, its key export market.
In contrast, the U.S. unit said it achieved solid results by using buffer inventory to respond to tariffs, reflecting a recovery in oil country tubular goods prices in the second half of the year, and booking revenue from overseas projects.
SeAH Steel Holdings also expects industry conditions to improve this year as demand for oil country tubular goods and line pipe in North America remains solid and demand emerges for infrastructure expansion to meet data center construction and power needs.
It also plans to improve earnings by supplying volumes for Middle East gas field projects stably despite geopolitical risks in the region and by completing the Canada gas field project.
Along with this, it plans to strengthen market responsiveness by adding high value-added new products, including CRA clad pipe, to its product portfolio.