SeAH Besteel Holdings said in a filing on the 29th that, on a consolidation basis, operating profit for the first quarter was provisionally tallied at 30.7 billion won, up 69.8% from the same period a year earlier.
Revenue for the same period was provisionally tallied at 987.6 billion won, up 7.5%, and net profit was provisionally tallied at 21.5 billion won, up 258.9%.
By affiliate, SeAH Besteel's first-quarter operating profit was provisionally tallied at 10.7 billion won, up 106.2% from a year earlier, and revenue was provisionally tallied at 528.4 billion won, up 6%.
SeAH Changwon Integrated Special Steel's operating profit for the same period was provisionally tallied at 13.9 billion won, up 13.3%, and revenue was provisionally tallied at 362.8 billion won, up 3.9%.
SeAH Aerospace and Defense's first-quarter operating profit was provisionally tallied at 6.8 billion won, down 0.7% from the same period a year earlier, and revenue was provisionally tallied at 34 billion won, up 4.4% over the same period.
SeAH Besteel Holdings said results improved despite a difficult business environment, including worsening global export conditions and continued inflows of low-priced imports, thanks to higher sales volumes through active marketing by key subsidiaries and a sales focus on high value-added products.
SeAH Besteel Holdings will continue to focus sales on high value-added products and actively respond to the anti-dumping issue involving Chinese steel to restore domestic sales volumes.
It also plans to focus on generating strategic integration synergies with U.S. special alloy producer Superalloy Technologies and, in the second half, use it as a base to complete a global supply-chain portfolio.