April 25, 2024
Industrials
Hyundai Steel’s 2016 net profit up 13%
[THE INVESTOR] Hyundai Steel, the country’s No. 2 steelmaker, said on Jan. 25 that its net profit rose 12.8 percent in 2016 from a year earlier.
According to Hyundai Steel, net profit reached 834 billion won (US$715 million) on a consolidated basis in 2016, as against 739 billion won the previous year. Operating income fell 1.3 percent on-year to 1.45 trillion won in 2016, while sales increased 3.5 percent to 16.69 trillion won over the cited period.
Hyundai Steel said its debt-equity ratio fell to 89.9 percent at the end of 2016 by paying off some 2 trillion won worth of debts over the past three years.
The steelmaker expects sales to increase slightly in 2017 as they aim to sell a total of 21.3 million tons of steel products, which will be a 3.4 percent increase from 2016.
(theinvestor@heraldcorp.com)
According to Hyundai Steel, net profit reached 834 billion won (US$715 million) on a consolidated basis in 2016, as against 739 billion won the previous year. Operating income fell 1.3 percent on-year to 1.45 trillion won in 2016, while sales increased 3.5 percent to 16.69 trillion won over the cited period.
Hyundai Steel said its debt-equity ratio fell to 89.9 percent at the end of 2016 by paying off some 2 trillion won worth of debts over the past three years.
The steelmaker expects sales to increase slightly in 2017 as they aim to sell a total of 21.3 million tons of steel products, which will be a 3.4 percent increase from 2016.
(theinvestor@heraldcorp.com)
