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| Statement |
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| Taking into account seasonality, operating profit grew by 19.9% year-on-year resulting in profits of over KRW400 billion for two consecutive quarters |
| Now the recovery rate I believe is quite good for lithium |
| In particular, our steel business generated robust profits through improved product mix, lower raw material costs and cost-cutting efforts, despite a drop in selling prices due to deteriorating market conditions, a decrease in product output resulting from major equipment repairs |
| Such performance underscores that our group's global competitiveness and efficiency in the steel sector continue to be a significant foundation for sustaining profits and cash generation, even in challenging economic conditions |
| We were seeing a solid demand and that's why we saw an increase |
| Such sound financials and solid profitability in the steel part will become a foundation that allows the growth strategy to be pursued without faltering |
| And also ASPs for different industries, for auto, in the letter F compared to the first half, because of the voluntary costs and fuel costs, we did finish discussing the ASPs and for shipbuilding, the shipbuilding industry overall is quite positive |
| Despite the drop in the [indiscernible] price, sales volume continued to grow to record a revenue of KRW1.286 trillion, which is 7.8% increased quarter-on-quarter |
| As for energy with the increase in the sales volume of Myanmar's gas field and the rise in power generation profit demonstrated a sound profit generation capability |
| In Indonesia, domestic sales with higher profitability is being expanded and domestic sales cost rose to 73% in 3Q |
| And as for our full use of the method, we can actually use the powder pellet so that has an advantage there |
| POSCO Future M is growing steadily |
| Despite the sluggish economic conditions, the sale profit was resilient at around KRW852.7 billion and the green infrastructure sector also generated over KRW400 billion in profit, similar to the previous quarter |
| So technology-wise, I think that we see results that is greater than our expectations |
| This is because with production issues in key supplying countries, the supply volume has now recovered to a level before 2020, and amidst this, solid demand has continued centering on India and Indonesia |
| Last but not least, our green materials revenue jumped 10% to a few again and posted a record quarterly revenue, but still it incurred losses |
| And as for nickel in EV, we are seeing a stable position |
| The JV has added an additional galvanizing plant to strengthen its presence in China, the largest auto steel sheet market |
| Unidentified Company Representative So I am head of raw materials office [indiscernible] so I think you all experienced the coke and coal experience in the second quarter so we are seeing stronger coke and coal for the following reason |
| This plant already secured most of the order quantity and we believe that this is the perfect example that RELL represents the value chain competitiveness that our group has on the eco-friendly green automobile material supplier |
| As such, the sales volume also dropped by 52,000 tons, but with the increase in the sales of high value added WTP product, it helped to defend the profitability |
| The share of high price N86 sales rose from 31% in second quarter to 40% in third quarter |
| Even in such a market condition from the structural side, efforts were made to enhance the profit structure |
| So therefore, we believe that we will be able to shorten the certification period |
| I think that in the long term the capability will increase |
| For several years, POSCO Group has continuously improved the financial structure and despite investment being made in the gross business, the 3Q debt-to-equity ratio only amounted to 13.7% |
| And as I mentioned earlier, we are going to focus on cost-cutting efforts as well internally so we can maintain high profitability |
| In India, sales share for automobile rose to as much as 50.2% |
| But as you probably all know, POSCO and the labor union, since the foundation of the company has built a very constructive relationship and so far we have never had a labor strike |
| Under its made in China 2025 policy and green car industry development plan, China is experiencing a higher growth of local green car production compared to internal combustion engine vehicles |
| Statement |
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| In particular, POSCO Future M's are OP contracted due to margin pressure caused by the decline in prices of key raw materials such as lithium |
| Both revenue and operating profit decreased by 9% and 7% respectively compared to the previous quarter |
| However, confidence for recovery is also weak and thus currently POSCO is doing its utmost to carry out various activities such as product mix and cost reduction activities to defend the profit as much as possible |
| However, despite the reopening of China's economy, the pace of economic recovery has been slower than expected |
| In Q3, we saw increasing global geopolitical tensions as well as persisting worldwide economic slowdown due to the high interest rate policy initiated by the U.S., which resulted in further uncertainties to the business environment |
| Initial OpEx and newly established subsidiaries like POSCO Argentina and POSCO Lithium Solution have also added to the losses |
| Operating profit of POSCO record is KRW727 billion, which is KRW114 billion lower than the previous quarter |
| And as for POSCO as well, in line with the carbon neutrality roadmap, we are seeing a decrease in demand as well |
| Amidst the ongoing economic slowdown and rising costs due to inflation, there were many challenges in business operations |
| In Q3, POSCO Holdings recorded a consolidated revenue of KRW18.961 trillion, a 5.8% decrease compared to the previous quarter, and an operating profit of KRW1.196 trillion, 89.8% decreased Q-o-Q |
| Operating profit decreased by 12.9% quarter-on-quarter |
| Recently, with the secondary battery metros, we have seen a drop in price as compared to the previous year |
| So I think that Q4 market outlook is going to stay weak just like Q3 |
| So we have faced some economic difficulties |
| I think that it's going to be more or less stay weak in continuation of Q3 results |
| In the fourth quarter as well, it seems difficult to predict the short-term economic recovery |
| So this caused some problems |
| During 3Q, the sales price dropped by approximately KRW48,000 per ton as compared to the previous quarter |
| POSCO high purity nickel refining plant construction has also experienced a delay of approximately one or two months pushing the originally planned December completion into Q1 next year |
| Despite the drop in raw material cost in the third quarter, the price drop was quicker, leading to a decrease in mill margins |
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