According to the company’s financial results, operating profit for the January–March period reached 15.7 billion won (approximately $10.5 million). Consolidated revenue increased by 3.2% year-on-year to 5.74 trillion won, driven by strong product shipments.
However, on a quarterly basis, operating profit declined by 63.7%, mainly due to exchange rate volatility and high raw material costs.
The company stated that the increase in debt and leverage ratios was driven by investments in its U.S. steel plant and growth-oriented expenditures, noting that this situation is temporary.
Hyundai Steel also announced that it expects profitability to gradually recover starting from the second quarter. This outlook is supported by a potential easing of pressure from low-priced imports and planned price increases in key products.
The company further emphasized its focus on growth areas such as energy infrastructure and demand for low-carbon steel. During the day, the company’s shares rose by 2.06% to 42,100 won.
Comments
No comment yet.