Posco International (047050) Q2 2024 earnings summary

Executive summary

• Achieved stable profit in 2Q24 despite challenging market conditions, supported by a diversified business structure.

• Enhanced financial stability through stable cash flow generation and debt reduction.

Financial highlights

• Sales reached KRW 8,282 billion, up 6.6% year-over-year.

• Operating profit was KRW 350 billion, a 2.1% increase year-over-year.

• EBITDA stood at KRW 484 billion, up 0.9% year-over-year.

• Net income for 2Q24 was KRW 190 billion, a 14% increase year-over-year.

Outlook and guidance

• Ongoing expansion in upstream and midstream energy operations, including new gas field developments and LNG terminal capacity increases.

• Flexibility in EV motor core business to address weak EV demand, with local production and hybrid order expansion.