POSCO Holdings announced on November 2 that it recorded a consolidated revenue of 19.14 trillion won and an operating profit of 940 billion won for the third quarter of this year. These figures represent increases of 10.9% and 47.9%, respectively, compared to the same period last year.
The improvement in performance was driven by the steel division. Despite rising raw material prices, POSCO managed to recover its operating profit to the 400 billion won range after increasing product prices and sales volume.
In contrast, the battery materials division shifted to an operating loss due to a decline in global lithium prices and reduced production at POSCO Argentina during the winter season. However, POSCO Future M saw an improvement in operating profit compared to the previous quarter, thanks to a recovery in cathode material sales and rising prices.
The infrastructure division also reported increased operating profit compared to the previous quarter, supported by expanded production in gas fields and palm oil operations by POSCO International, as well as increased orders for POSCO E&C.
POSCO Group is accelerating its business competitiveness through its 'Triple Core' strategy, focusing on steel, battery materials, and energy resources. In September, the company began construction of an 8CGL facility for producing automotive hot-dip galvanized steel sheets at its Gwangyang Steelworks.
In the battery materials sector, POSCO Future M is transitioning its Pohang ternary cathode material facility to produce lithium iron phosphate (LFP). POSCO Argentina has also completed the construction of its second plant, which has an annual capacity of 25,000 tons and is expected to contribute to profits starting in the second half of 2027.
In the energy sector, the company secured an annual production volume of approximately 1 million tons of liquefied natural gas (LNG) through a shale gas asset acquisition agreement in the United States. Financial stability has also improved, with POSCO Holdings reducing its net debt by 4.3 trillion won due to proactive cash management and the strengthening of the won, resulting in a 6.7 percentage point decrease in its debt ratio.
* This article has been translated by AI.
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