Posco Achieves Steel Operating Profit Of More Than 1 Trillion Won For 9 Consecutive Quarters
As of the end of the third quarter of 2019, POSCO has achieved operating profit of more than 1 trillion won for nine consecutive quarters. POSCO announced in a conference call on October 24 that in the third quarter, consolidated operating income was 15,988.28 billion won, operating profit was 1,099.8 billion won, and net profit was 498.6 billion won.
Although the operating profit for the quarter decreased compared with the previous quarter, the overall performance remained unchanged, mainly due to the better performance of POSCO International’s natural gas well business in Myanmar and the energy gains from improved construction progress and rising electricity prices of POSCO E & C .
In the third quarter, POSCO’s non-consolidated sales revenue was 77359 billion won, operating profit was 662.5 billion won, and net profit was 499 billion won. After the overhaul of some production lines in the second quarter, POSCO production normalized and sales increased, but operating profit fell by 8.5% due to rising raw material prices.
The World Top Premium product sales ratio increased by 0.3% to 29.9%, which effectively reduced the decline in profits and eventually achieved a profit rate of 8.6%.
POSCO is known for maintaining a stable financial structure. Despite the increase in corporate bonds and loans, the overall debt ratio remained at 65.7%.
Posted by stainless steel tubing supplier and stainless steel pipe supplier KAYSUNS.
