The company said consolidated operating income for 2023 decreased $1.9 billion (38%) to $3.2 billion, and net income attributable to the company decreased $1.4 billion (37%) to $2.5 billion. Diluted earnings per share were $14.64, compared with $20.92 for 2022.

1. 01

   The company said consolidated operating income for 2023 decreased $1.9 billion (38%) to $3.2 billion, and net income attributable to the company decreased $1.4 billion (37%) to $2.5 billion. Diluted earnings per share were $14.64, compared with $20.92 for 2022.

2. 02

   The company said steel operations shipments for 2023 rose 5% to a annual total of 12.8 million tons, while average selling prices fell 18% ($249 per ton) and metal spread contracted 20%, causing steel operations operating income to decline 39% to $1.9 billion.

3. 03

   The company said cash flow from operations for 2023 was $3.5 billion (2022: $4.5 billion), and it invested $1.7 billion in property, plant and equipment (2022: $908.9 million). The investments were made mainly in its aluminum operations and steel operations segments.

4. 04

   The company said it raised its quarterly cash dividend by 25% to $0.425 per share in Q1 2023. Declared cash dividends for 2023 were $280.5 million (2022: $245.3 million). Share repurchases in 2023 totaled $1.5 billion, and the remaining amount available under the program approved in November 2023 is $1.4 billion.

Key figures

Fiscal year ended December 31, 2023

Revenue

$18.8B

Operating income

$3.2B

Net income

$2.5B

EPS

$14.64

Gross profit

$4.0B

Operating cash flow

$3.5B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.