SeAH Steel reported revenue of ₩3.91 trillion (2.9 billion dollars) for 2023, experiencing a 1% decrease compared to 2022. However, there was a 1.9% increase in net profit, reaching 283.6 billion won (210 million dollars). Alongside this increase, the profit margin rose to 7.2%, up from 7.0% in the previous year, attributed to a decrease in expenses.
The company's earnings per share (EPS) also showed an increase from the previous year, reaching 70,197 won (50 dollars), compared to 68,897 won recorded in 2022.
SeAH Steel is a prominent steel producer in South Korea with its Pohang Facility being one of the world's largest steel plants, boasting an annual production capacity of 1.2 million tons. In addition to its Pohang facility, SeAH Steel operates production facilities in Gunsan, Suncheon, and Changwon, collectively producing over 2.2 million tons of various steel pipes and plates annually.
Expanding its international presence through overseas production and distribution activities, SeAH Steel recently acquired the Italian steel pipe manufacturer Inox Tech, adding to its portfolio of seven steel factories worldwide. These factories are located in the United States, Vietnam, the United Arab Emirates, and Italy.
Analysts express positive expectations for SeAH Steel's continued strong performance in the future. The company's measures to increase profitability and its consistent performance improvement continue to attract attention from investors and industry experts.
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