POSCO(US:PKX)2025-05-30 17:44Share Capital and Structure - The total number of issued shares decreased from 84,571,230 to 82,624,377 due to the cancellation of treasury shares, with no change in share capital of KRW 482,403 million[19]. - The number of shares with voting rights is 75,620,779, after accounting for 7,003,598 shares classified as treasury stock[26]. - The company has not made any changes to its share capital in the last five years[16]. - The company’s treasury shares decreased from 8,695,023 to 7,003,598 after the cancellation of shares[23]. - The par value of common stock remains at KRW 5,000 per share[18]. Business Operations and Subsidiaries - The company reported a total of 193 consolidated subsidiaries as of December 31, 2024, an increase of 2 from the previous year[10]. - The company has 6 listed subsidiaries and 187 unlisted subsidiaries as of December 31, 2024[10]. - The company engaged in a vertical spin-off in March 2022, resulting in the formation of POSCO HOLDINGS INC. and a focus on managing the group's businesses[15]. - The company’s business scope has expanded to include management and licensing of intellectual property rights and investment in new technology[8]. Financial Performance - Consolidated profit for 2024 decreased to KRW 1,094,917 million, down 35.5% from KRW 1,698,092 million in 2023[28]. - Earnings per share (consolidated) fell to KRW 14,451, a decline of 35.4% compared to KRW 22,382 in 2023[28]. - Total revenue for 2024 was KRW 72,688,143 million, a decrease of 5.6% from KRW 77,127,197 million in 2023[182]. - Operating profit for 2024 was KRW 2,173,573 million, down 38.4% from KRW 3,531,423 million in 2023[182]. - Profit attributable to owners of the controlling company for 2024 was KRW 1,094,917 million, a decline of 35.5% compared to KRW 1,698,092 million in 2023[182]. - Total gross sales for the company in 2024 amount to 622,009 million KRW, down from 635,387 million KRW in 2023[156]. - Total current assets decreased to KRW 44,029,923 million in 2024 from KRW 46,212,299 million in 2023, reflecting a decline of 4.7%[181]. - Total assets increased to KRW 103,404,199 million in 2024, up from KRW 100,945,394 million in 2023, representing a growth of 2.4%[181]. - Total liabilities increased to KRW 41,953,831 million in 2024 from KRW 41,281,497 million in 2023, marking a rise of 1.6%[181]. Market and Production Insights - Global crude steel production in 2024 is projected at 1,839 million tons, a decrease from 1,850 million tons in 2023, reflecting a 0.6% decline[42]. - POSCO's market share in crude steel production for 2024 is 55%, maintaining its position as a leading producer[49]. - The total sales for the steel segment in 2024 were KRW 62,200,920 million, with an operating income of KRW 1,636,808 million, down from KRW 63,538,698 million and KRW 2,556,779 million in 2023[36]. - The infrastructure (trading) segment reported sales of KRW 42,903,253 million with an operating loss of KRW 1,113,710 million, slightly down from KRW 42,943,752 million and an operating loss of KRW 1,133,512 million in 2023[36]. - POSCO's crude steel production for 2024 is projected at 39,281 thousand tons, a slight decrease from 39,941 thousand tons in 2023[124]. - The utilization rate for POSCO's crude steel production is 86.6% for 2024, with a total capacity of 40,461 thousand tons[126]. Investments and Future Plans - The company plans to enhance its low-carbon product portfolio and aims to produce high value-added products starting in 2026 using a newly established electric furnace[51]. - The company aims to expand motor core production for electric vehicles to 7 million units by 2030[69]. - The company plans to achieve a three-fold increase in gas production in Australia by 2025 following the acquisition of Senex Energy[72]. - The company plans to invest KRW 926,302 million in the 4th stage development of the Myanmar gas field from July 2024 to June 2027[173]. - The company plans to expand its Gwangyang LNG terminal with an investment of 8,733 million KRW, of which 3,430 million KRW has already been invested[153]. Environmental and Sustainability Efforts - The onshore wind power complex in South Korea generates approximately 120,000 MWh of clean energy annually, reducing carbon dioxide emissions by about 49,000 tons[72]. - The company has established multiple R&D centers focusing on low-carbon processes and secondary battery materials to enhance innovation[176]. - The company plans to publish a sustainability report for 2023 and has approved the publication plan[197]. - The company has reported on the Group-wide ESG performance for Q1 2024 and is reviewing its ESG management plan for 2024[197]. Dividends and Shareholder Returns - The pay-out ratio for dividends increased to 69.2% in 2024, up from 44.7% in 2023, reflecting a commitment to returning value to shareholders[28]. Miscellaneous - The company approved the 56th financial statements and scheduled the general meeting of shareholders for March 21, 2024[193]. - The company is participating in the acquisition of hybrid bonds issued by POSCO Future M and has approved the transfer of steel-related business previously owned by POSCO Holdings[194]. - Currency swap valuation gains at the end of December 2024 amounted to KRW 548,353 million, with transaction gains of KRW 79,988 million[167]. - The company has approved the appointment of a Compliance Officer and the establishment of a Greenwashing Review Committee[197][199].