South Korean steelmaker Pohang Iron and Steel Co. (POSCO) has announced its consolidated financial results for the first quarter of 2025.
The company has reported an operating profit of KRW 568 billion ($403.61 million) for the quarter, compared to the operating profit of KRW 95 billion in the fourth quarter of 2024 and decreasing compared to the operating profit of KRW 583 billion in the same quarter of 2024. In the first quarter this year, POSCO’s sales revenue decreased by two percent compared to the previous quarter and were down by 3.4 percent year on year to KRW 17.43 trillion ($12.38 billion), while its net profit amounted to KRW 344 billion ($244.44 million), decreasing compared to a net profit of KRW 608 billion in the same period of 2024 and compared to a net loss of KRW 703 billion in the fourth quarter last year.
The company achieved better financial results in the given quarter compared to the fourth quarter last year, despite the decrease in crude steel production and finished steel sales. In the first quarter, POSCO produced 8.65 million mt of crude steel, falling by 5.4 percent quarter on quarter and by 0.1 percent year on year. In the given quarter, the company’s finished steel sales decreased by 0.9 percent year on year to 8.15 million mt.
For 2025, the company will construct an electric arc furnace to effectively supply low-carbon emissions steel products, and will focus on overseas growth and on enhanced operational efficiency of facilities through replacement or renovation of aged assets.
