South Korea · Delayed Price · Currency is KRW POSCO Holdings Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw sequential revenue and profit growth, driven by lithium and infrastructure segments, while steel margins remained pressured by FX and input costs. Strategic investments in India and low-carbon steel production are advancing, with a new performance-linked shareholder return policy set at 35%-40% of adjusted net profit.
Fiscal Year 2025
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2025 saw revenue and profit declines amid global headwinds, but strategic investments in lithium, steel, and infrastructure are set to drive a turnaround in 2026. Commercial lithium production, overseas steel expansion, and portfolio restructuring are expected to boost profits.
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Revenue and operating profit improved for the third consecutive quarter, driven by cost-cutting and higher sales in steel, while battery materials narrowed losses and POSCO E&C absorbed major one-off costs. Steel profits are expected to rise in 2026 as markets normalize.
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Q2 2025 saw revenue of KRW 17.6 trillion and a 5.7% operating margin, with steel margins improving on cost cuts and automation, while battery materials faced higher deficits from ramp-up costs and low lithium prices. Asset restructuring and new lithium investments are underway, with optimism for H2 growth.
Fiscal Year 2024
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2024 saw revenue and profit declines due to steel oversupply and weak energy materials prices, with significant asset impairments in Q4. Despite these headwinds, new battery material plants were commissioned, restructuring generated cash, and 2025 is expected to see modest profit improvement.
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Q3 revenue and operating profit were stable, supported by high-end steel sales, but margins remain pressured by falling steel and lithium prices. Strategic expansion in India and ongoing restructuring aim to boost long-term growth and capital efficiency.
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Q2 2024 saw revenue and operating profit growth, led by steel and infrastructure, while battery materials posted losses amid EV market headwinds. Strategic asset restructuring and decarbonization initiatives continue, with cautious optimism for H2 profit improvement.