This article is translated by AI company Flitto and Infostock Daily using neural machine translation technology.
포스코 CI.
POSCO overcame COVID-19 in the first quarter of this year and completely escaped the previous year's performance slowdown.
As infectious diseases have emerged worldwide since last year, POSCO has tightened its belt this year, including cost savings.
According to the Financial Supervisory Service on the 29th, POSCO's consolidated sales in the first quarter were 16.687 trillion won, up 10.5% from 14.5458 trillion won a year earlier.
During the same period, operating profit and net profit rose 54.6% (847.1 billion won) and 162% (704.1 billion won) to 1.5524 trillion won and 1.1388 trillion won, respectively.
As a result, sales, operating profit and net profit of POSCO last year, the first year of COVID-19, were 10.2% (6.43668 trillion won → 57.7928 trillion won), 37.9% (3.8689 trillion won → 2.403 trillion won), and 9.8% (1.9826 trillion won → 1.782 trion won), respectively, compared to the previous year.
As POSCO's future growth rate (sales growth rate) has become solid, its operating profit ratio, which means corporate profitability, has more than doubled from 4.2% last year to 9.7% in the first quarter. POSCO's debt ratio, an indicator of financial structure safety, also rose slightly from 65.9 percent last year to 68.3 percent in the first quarter.
"The temporary stock price adjustment has entered a final phase. As Chinese steel production does not increase further this month, POSCO's stock price is expected to rise again," Samsung Securities said, offering an investment opinion "buy" and a target stock price of KRW 450,000.
Reporter Lee Ji-sun stockmk2020@gmail.com