South Korean steelmaker Pohang Iron and Steel Co. (POSCO) has announced its financial results for 2015, reporting a net loss of KRW 96 billion ($79.29 million), compared to a net profit of KRW 557 billion in the previous year.
In 2015, POSCO's sales revenue amounted to KRW 58.19 trillion ($48 billion), down 10.6 percent year on year. Meanwhile, its operating profit for the given year totaled KRW 2.41 trillion ($1.99 billion), down 25 percent year on year.
In the year in question, POSCO produced 37.97 million mt of crude steel, up from 37.65 million mt in 2014, while the company's steel product sales amounted to 35.3 million mt, up two percent, both year on year.