POSCO INTERNATIONAL : achieves record highest revenue and unveils business road map for sustainable growth

- Exceeded target of 33.9489 trillion KRW in sales and 585.4 billion KRW in operating profit

- Reinforces growth foundation for continuous core business reflecting the global management environment and the characteristics of each business

- Development of future business demand for next core business such as green business

POSCO INTERNATIONAL (President : Si-Bo Joo) announced that it achieved annual sales of 33.9489 trillion KRW, operating profit of 585.4 billion KRW, and 356.5 billion KRW in net profit in 2021, even on issues such as the spread of COVID-19 mutations, strengthening of protectionism, and global supply issues.

In particular, 58% of annual sales, 23% of operating profit, and 55% of net profit increased year-on-year, respectively, based on the consolidation of export channels, the expansion of the trading of steel/steel raw materials, and the good performance of the investment corporation, leading to the achievement of the highest sales ever.

As an affiliated trading corporation of POSCO group, POSCO INTERNATIONAL has been building the foundation for sustainable growth by investing in core businesses following the management policy of growth and innovation while simultaneously finding future businesses. They have also improved subsidiary performance and trading profits to increase profitability, and these efforts have been evaluated to be in line with market consensus.

In the fourth quarter, sales and operating profits were at 9.1859 trillion KRW and 140 billion KRW, respectively, with 62.8% and 60.4% rising compared to last year. The profit rise is based on increases in food trading such as soybeans, rising prices of gas sales, rising prices of palm oil in Indonesia, and good performance of investment companies.

POSCO INTERNATIONAL plans to accelerate its core business achievement and transform into a future industry such as green business to continue this growth this year as well.

For this purpose, they decided to strengthen their position as a key supplier of eco-friendly vehicles in response to the rapidly growing global electric vehicle market. According to the drive motor core global production road map, the company plans to build 4 million units by 2025 to increase global market share to 20%.

In addition, they presented a road map for each core business and presented specific strategies. First of all, the steel business will focus on creating synergy by integrating the export channels of the group companies and expanding the global supply and the group-linked transactions. In addition, they decided to supply iron scrap, which is a renewable source, in line with the group's carbon-neutral strategy, and to actively develop demand for related industries such as eco-friendly vehicles, wind power, and solar power.

The energy department plans to build a stable operating system early by strengthening the profit base of the gas field business and completing the acquisition of Senex Energy in Australia. Furthermore, they plan to continue developing new resources by securing additional reserves by exploring offshore mining areas in Malaysia and Indonesia.

The food business, which the company has developed as one of the group's top 100 projects, will establish the foundation for the comprehensive food business by expanding the grain value chain. In addition, the farm oil business will continue to expand its business, such as farm oil refining and biodiesel, based on the establishment of the holding company.

An official from POSCO INTERNATIONAL said, "We will secure future growth engines and achieve management goals with business strategies that reflect the changing global business environment," adding, "We will continue to increase corporate and shareholder value based on steady performance generation and global market expansion."