POSCO International Posts Q3 Operating Profit of 315.9 Billion Won, Down 11.6% Year-on-Year

"Stable Operation of Expanded Energy Gas Field in Australia"

On October 27, POSCO International announced that its operating profit for the third quarter was 315.9 billion won, down 11.6% from the same period last year. Revenue was 8.2483 trillion won, a decrease of 1.3% year-on-year. Compared to the previous quarter, revenue rose by 1.3% and operating profit increased by 0.8%.

POSCO International explained, "Despite global supply chain instability and economic fluctuations, we maintained solid profitability based on a stable portfolio of core businesses such as energy and materials."

The company reported improved performance as the expansion facilities at the Senex Energy gas field in Australia began stable operations. Currently, the second gas processing facility is operating normally. With an additional facility scheduled for completion by the end of this year, the 'Senex Energy Triple Production Expansion Project' will be finalized. The effects of increased production are expected to be fully reflected from next year.

In addition, due to increased electricity demand caused by this year's heatwave and fuel cost savings, profit from the power generation business also rose by 3.5%.

In the materials segment, the drive motor core business has seen steady profit growth since turning a profit in the fourth quarter of last year. Despite unfavorable conditions in the steel business-such as U.S. tariffs and the exhaustion of European Union (EU) quotas-profitability improved thanks to factors like the strengthening of the euro, resulting in a 5.1% increase in operating profit compared to last year.

A POSCO International official stated, "We are securing a stable profit base across the entire energy value chain, from gas production and power generation to LNG infrastructure. The expansion of large-scale orders for drive motor cores, collaboration with U.S. uranium enrichment company Centrus, and additional investments in gas fields in the United States are all positive factors that will drive diversification of our business portfolio."