POSCO Reports 38% Dip in Profit in 2020
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POSCO Reports 38% Dip in Profit in 2020

South Korea's top steelmaker POSCO’s has reported an operating profit of KWR 2.4 trillion (USD 2.15 billion) in 2020 down by 37.9% YoY and a net profit of

South Korea's top steelmaker POSCO’s has reported an operating profit of KWR 2.4 trillion (USD 2.15 billion) in 2020 down by 37.9% YoY and a net profit of KWR1.7 trillion for 2020 down by 9.8% YoY as sales dropped by 10.2% YoY to KWR 57.7 trillion. POSCO attributed decline in margins & sales declined because the coronavirus pandemic cut steel demand while raw material prices rose and due to delayed reflection of rising raw material price on product prices

On a consolidated basis, POSCO's operating profit stood at

KWR 167.7 billion in the second quarter

KWR 666.7 billion in the third quarter

KWR 863.4 billion in the fourth quarter

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