POSCO(US:PKX)2025-08-28 13:13Financial Performance - Consolidated revenue for 2024 is projected at KRW 72,688,143 million, a decrease of 5.6% from KRW 77,127,197 million in 2023[5] - Consolidated operating income for 2024 is expected to be KRW 2,173,573 million, down 38.4% from KRW 3,531,423 million in the previous year[5] - Consolidated net income for 2024 is forecasted at KRW 947,580 million, a decline of 48.7% compared to KRW 1,845,850 million in 2023[5] - Total assets increased to KRW 103,404,199 million in 2024, up from KRW 100,945,394 million in 2023, reflecting a growth of 2.4%[5] Corporate Governance - The company maintains a 100% compliance rate with key corporate governance indicators[6] - The Board of Directors consists of 10 members, with 6 being outside directors, ensuring independent oversight[16] - In 2024, the Board held 10 meetings and its Special Committees convened 29 times to support decision-making on key management issues[18] - The company has adopted a new governance framework to enhance transparency in CEO succession processes, approved in December 2023[7] Shareholder Engagement - POSCO Holdings has provided e-voting at all regular AGMs since March 2019, facilitating shareholder participation[7] - The company held two AGMs during the reporting period, with full compliance in notifying shareholders through multiple channels including KRX and SEC systems[23] - The company has committed to providing shareholders with sufficient information 28 days in advance of AGMs[27] - The company has encouraged proxy voting and conducted AGMs outside peak dates to enhance shareholder convenience[29] Shareholder Returns - A new three-year shareholder return policy was announced, targeting a basic dividend of KRW 10,000 per share, funded by 50-60% of annual free cash flow[53] - The company paid cash dividends totaling KRW 2.82 trillion during the mid-term dividend policy period (2020-2022), achieving a consolidated dividend payout ratio of 24.8%[52] - In July 2024, the company announced a share buyback policy to repurchase and cancel 6% of outstanding shares over three years, along with a KRW 100 billion treasury share purchase[55] - Cash dividends for 2024 are set at KRW 757.5 billion, with a payout ratio of 69.2%[74] Investor Relations - The company has enhanced communication with shareholders through various channels, including a YouTube channel for retail investors, featuring 199 videos and 31 million views as of May 2025[94] - The company has implemented a system for investors to request IR meetings and actively engages in various IR activities to reflect investor interests[92] - The company will hold a conference call on January 31, 2024, to release its 2023 earnings and conduct a Q&A session with institutional investors and analysts[96] - The company has established a dedicated IR team to handle inquiries from foreign shareholders, ensuring effective communication and support[102] Risk Management - The company has a risk management system in place to monitor and respond to risks, reporting results to the Board of Directors[177] - The company has established a comprehensive risk management policy, integrating business risks related to management strategy, new business development, global M&A, and ESG into a single function within the Management Strategy Office[181] - The internal accounting management system has been in place since early 2001 and is subject to annual audits by external auditors, ensuring compliance with the Sarbanes-Oxley Act[187] - The company conducts quarterly reviews of its consolidated financial statements and internal accounting management system to strengthen financial risk controls[179] Leadership and Management - The CEO and Representative Director, Chang In Hwa, has served for 14 months and is set to continue until March 21, 2027[200] - Lee Ju Tae, Head of Corporate Strategy Division, has a term of 2 months remaining until March 20, 2026[200] - The Corporate Strategy Division is expected to play a crucial role in future business planning and investment strategies[200] - The company is committed to strategic planning and investment to drive future growth[200]