POSCO Holdings announced on the 30th that its consolidated sales for the second quarter of this year reached 19.259 trillion won, with an operating profit of 819 billion won. Sales increased by 9.7% and operating profit rose by 34.9% compared to the same period last year.
Compared to the previous quarter (Q1), sales grew by 7.7% and operating profit increased by 15.9%. According to POSCO, performance improved from the prior quarter due to a turnaround in profitability for the secondary battery materials segment and strong results in the infrastructure business division.
In the steel sector, despite rising raw material costs and oil prices, POSCO slightly boosted sales and operating profit compared to the previous quarter thanks to higher selling prices and increased sales volume. In the secondary battery materials segment, POSCO Future M improved its operating profit from the prior quarter due to inventory valuation effects on cathode materials and a recovery in sales volume to key customers for anode materials.
At the same time, POSCO Argentina achieved its first quarterly profit through stabilization of operations at its first saltwater lithium plant and equipment improvements. For the second half of the year, while initial operational costs are expected to rise with the completion of the second plant, the company plans to enhance profitability through phased production increases and expanded sales.
POSCO Filbara Lithium Solutions saw improved profitability due to expanded sales and rising prices. POSCO HY Clean Metal has recorded monthly profits since December last year.
In the infrastructure division, POSCO International achieved its highest quarterly operating profit, driven by consistent profit growth from gas fields in Myanmar and Australia and palm business operations in Indonesia.
POSCO E&C reported improved profitability in its construction business.
POSCO Holdings, which has been implementing structural reforms since 2024, aims to complete 129 reform projects by 2028 and generate 3.5 trillion won in cash. This target was revised upward from the previous goal of completing 128 projects by 2027 and generating 2.8 trillion won in cash. In the first half of this year, the company secured 480 billion won in cash through 12 reform projects, achieving a cumulative total of 85 completed projects and 2.2 trillion won in cash generation.
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