Hyundai Steel announced on October 30 that it recorded consolidated sales of 5.8971 trillion won, an operating profit of 87.1 billion won, and a net profit of 84 billion won for the third quarter of 2026.
Sales increased by 2.8% compared to the same period last year, but operating profit decreased by 6.5%. In contrast, net profit surged by 371.9%. The operating profit margin fell to 1.5%, down 0.1 percentage points from the previous year, while the net profit margin rose to 1.4%, up 1.1 percentage points.
Hyundai Steel explained, "Sales decreased by 3.4% compared to the previous quarter due to seasonal off-peak periods and holidays, but operating profit improved by 51% from the previous quarter due to rising prices of key products and an increased share of high-value automotive steel products."
The company added, "In the fourth quarter, we expect profitability to improve further as the effects of price increases for major products are fully reflected and the prices of key raw materials stabilize downward."
Hyundai Steel plans to focus on securing global production bases and enhancing the competitiveness of high-value products.
In September, the company held a groundbreaking ceremony for an electric arc furnace integrated steel mill in Louisiana, USA, specialized in automotive steel production. This new facility aims to expand the production base for high-value automotive steel and respond to the growing demand for low-carbon steel products. The company plans to leverage its existing local business network to enter the automotive steel market and broaden its sales channels into future mobility and advanced industries.
Domestically, to meet the demand for high-spec H-beams driven by the construction of AI data centers and semiconductor factories, Hyundai Steel launched the integrated brand 'H One' for rolled and welded H-beams. This initiative aims to supply products tailored to various architectural design conditions and enhance product competitiveness, including obtaining KS certification for seismic and fire-resistant H-beams.
Internationally, the company is pursuing customized product development and certification, focusing on markets in New Zealand and Taiwan. Hyundai Steel plans to host 'Customers Day' events for major clients to introduce next-generation automotive steel technologies and expand collaborative technical partnerships, thereby broadening its global customer base.
A Hyundai Steel representative stated, "We are actively discovering new demand through securing global growth bases, enhancing the competitiveness of high-value products, and expanding our customer base. We will continue to expand product sales and improve profitability based on sustainable competitiveness."
* This article has been translated by AI.
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