POSCO Holdings Inc. (PKX) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.977 the external uncertainties that had continued since the first half became even more complex. 00:00:05.977 -- 00:00:11.302 Amid these conditions, Postco Holdings on a consolidated basis recorded revenue 00:00:11.302 -- 00:00:12.963 of 17.3 trillion 00:00:12.963 -- 00:00:16.466 won and operating profit of 640 billion won. 00:00:16.466 -- 00:00:21.091 Despite losses at Postco ENC, consolidated OP has bottomed out in the fourth quarter 00:00:21.091 -- 00:00:24.814 of last year and improved to three consecutive quarters. 00:00:24.814 -- 00:00:29.714 Our key business sector for sales performance continued to improve. 00:00:29.714 -- 00:00:34.440 Postco's average mill margin was comparable to that of last quarter, but sales volume 00:00:34.440 -- 00:00:39.526 rose, and the company's proactive cost-cutting efforts drove up operating 00:00:39.526 -- 00:00:40.988 profits. 00:00:40.988 -- 00:00:45.394 As a result, Postco's this quarter's OP margin recorded 6.6%. 00:00:45.394 -- 00:00:47.594 In steel, 00:00:48.418 -- 00:00:53.464 although EU duty-free quotas have been reduced and tariffs on steel products 00:00:53.464 -- 00:00:55.464 increased, 00:00:55.507 -- 00:00:59.669 Korea's steel market is normalizing, 00:01:00.393 -- 00:01:07.258 And therefore, we will strive to sustain solid level of profitability going forward. 00:01:07.460 -- 00:01:12.165 In rechargeable battery materials, losses narrow sharply QOQ. 00:01:12.165 -- 00:01:17.671 This was because at postcode future M, cathode sales volume increased ahead of the IRA 00:01:17.671 -- 00:01:23.036 benefit sunset. And at our lithium operations, the price rebound led to reversal of inventory 00:01:23.036 -- 00:01:28.522 valuation losses. As mentioned during the last earnings call, our top p...