On January 29, Hyundai Steel announced its 2019 business performance. In 2019, the company recorded USD 17.1 billion in sales, showing a 1.3% decrease from the previous year, and USD 277 million in operating profits, showing a 67.7% decrease from the previous year. The operating margin also decreased over a one-year period, from 3.3% to 1.6%. In 2019, iron ore prices soared to USD 120 per ton, which was reflected in the prices of major products such as automotive steel plates and heavy shipbuilding plates. This increase in iron ore prices led to an overall decline in operating profits.
Additionally, due to weak construction demands, product sales and unit prices declined, affecting sales and operating profits. In the midst of difficult circumstances, such as unstable steel supply and demands, Hyundai Steel plans to expand its vehicle material and component certifications, make new investments and construct facilities, promote smarter manufacturing techniques and processes, and concentrate on honing its capabilities to meet future demands as a global vehicle material expert.
* Table unit: US million dollars
* (Consolidated)
| Category | 2018 | 2019 | Rate of Change |
| Sales | 17,359 | 17,135 | -1.3% |
| Operating Profit (Profit Rate) |
857 (4.9%) | 277 (1.6%) | -67.7% |
| Net Profit (Profit Rate) | 341 (2.0%) | 21 (0.1%) | -93.7% |