The following is a summary of the POSCO Holdings Inc. (PKX) Q3 2024 Earnings Call Transcript:

Financial Performance:

• POSCO reported third quarter revenues of KRW18.321 trillion, remaining consistent with the second quarter.

• Operating income for the same period was KRW743 billion.

• EBITDA stood at KRW1.75 billion for the third quarter.

• Steel operating profit marked KRW466 billion, declining from the previous quarter by KRW31 billion.

• Operating profits were bolstered by the Infrastructure segment and POSCO International, despite challenges in the rechargeable battery materials business.

Business Progress:

• POSCO has completed the construction of the POSCO Argentina Brine Lithium Phase 1 plant, commencing production.

• Strategic alliance formed with JSW Group in India for an integrated steel mill and renewable energy sectors.

• POSCO is actively pursuing market entry strategies in key regions including India and restructuring non-core and low-margin businesses.

Opportunities:

• The strategic alliance with JSW for establishing an integrated steel mill in India positions POSCO to capitalize on one of the fastest-growing steel demand markets.

• Expansions in lithium hydroxide production and renewable energy collaborations are poised to bolster POSCO's portfolio in sustainable and renewable sectors.

Risks:

• Falling prices of lithium hydroxide and the intensive capital and operational expenditures due to new plant constructions add financial pressure and could potentially delay cost recovery.

• Volatile steel demand and price fluctuations, particularly in the Chinese market, pose risks to profitability.

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