SeAH Besteel Holdings Q3 Operating Profit 41.2 Billion KRW... 111.6% Increase

SeAH Besteel Holdings announced on the 2nd that its consolidated operating profit for the third quarter of this year is preliminarily estimated at 41.2 billion KRW, an increase of 111.6% compared to the same period last year.

Sales decreased by 11.0% to 960.4 billion KRW, while net profit increased by 30.3% to 30.2 billion KRW.

SeAH Besteel Holdings stated, "Although sales slightly declined due to weak global demand, operating profit increased thanks to strengthened sales strategies for high value-added products. Efforts to reduce costs, including improvements in energy expenses, enhanced cost competitiveness and strengthened profitability."

SeAH Besteel Holdings added, "Despite recent external challenges such as instability in Middle Eastern charter markets, we will focus on strengthening differentiated special steel and special metal research and development (R&D) capabilities by adopting nuclear power, aviation, and hydrogen businesses as new growth engines."