Earnings Call Summary | POSCO(PKX.US) Q1 2024 Earnings Conference
Earnings Call Summary | POSCO(PKX.US) Q1 2024 Earnings Conference
The following is a summary of the POSCO Holdings Inc. (PKX) Q1 2024 Earnings Call Transcript:
以下是浦项制铁控股公司（PKX）2024年第一季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
In Q1 2024, POSCO Holdings' revenue decreased 3% quarter-over-quarter to KRW 18.52 trillion.
Operating profit showed a robust growth, increasing by 92% to KRW 583 billion owing to profit recovery of the steel subsidiary POSCO and reversal of inventory impairment losses in the rechargeable battery materials business.
The operating profit in the steel business showed a slight fall to KRW 339 billion, while the infrastructure business recorded a noticeable operating profit of KRW 340 billion.
The company has plans to slightly reduce its capital expenditure for the year, as compared to the initial plan to avoid impacting operating profit excessively.
在2024年第一季度，浦项控股的收入同比下降3％，至18.52万亿韩元。
营业利润强劲增长，增长92％，达到5,830亿韩元，这要归因于钢铁子公司浦项制铁的利润回升以及可充电电池材料业务的库存减值损失的逆转。
钢铁业务的营业利润略有下降至3390亿韩元，而基础设施业务的营业利润为3,400亿韩元。
与最初的计划相比，该公司计划略微减少今年的资本支出，以避免过度影响营业利润。
Business Progress:
业务进展：
POSCO has built a new vision emphasizing on materials for tomorrow and innovation for excellence.
Despite the slowdown in the EV market, POSCO sees it as an opportunity to grow and innovate in the battery materials business, highlighting their R&D advancements in lithium metals and dry recycling.
To fortify its global competitiveness, the company plans on internally sourcing 70% of the lithium and nickel required for cathode active materials.
POSCO's roadmap to achieve carbon neutrality includes the development of the HyREX pilot facility, projected to be completed by February 2026.
The company plans to increase prices in response to raw materials costs trends and exchange rates, while simultaneously addressing issues of illegally imported goods and price dumping.
POSCO is recognizing potential in high growth markets such as India, Indonesia, and North America and plans on continuation of its existing strategy in these regions.
Future product plans include shifting their focus towards lithium carbonate production.
浦项制铁建立了新的愿景，强调未来的材料和追求卓越的创新。
尽管电动汽车市场放缓，但浦项制铁仍将其视为电池材料业务增长和创新的机会，突显了他们在锂金属和干回收方面的研发进步。
为了增强其全球竞争力，该公司计划在内部采购阴极活性材料所需锂和镍的70％。
浦项制铁实现碳中和的路线图包括开发Hyrex试点设施，预计将于2026年2月完成。
该公司计划根据原材料成本趋势和汇率提高价格，同时解决非法进口商品和价格倾销的问题。
浦项制铁正在认识到印度、印度尼西亚和北美等高增长市场的潜力，并计划在这些地区延续其现有战略。
未来的产品计划包括将重点转移到碳酸锂生产上。
More details: POSCO IR
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