PKX - POSCO Holdings Inc. (PKX) Q1 2024 Earnings Call Transcript

2024-04-29 12:01:01 ET

POSCO Holdings Inc. (PKX)

Q1 2024 Earnings Call Transcript

April 25, 2024 02:00 AM ET

Company Participants

Ki-Seop Jeong - CSO

Lee Kyung-seop - Chief of LiB Materials Business

Han Young-ah - Head of Finance

Kim Sang-hoon - Managing Director

Conference Call Participants

Park Hyun-Wook - Hyundai Securities

Kim Yoon Sang - HI Investment Securities

Eugene Lee - Eugene Securities

Presentation

Ki-Seop Jeong

Greetings, everyone. I am CSO of POSCO Holdings. My name is Jeong Ki-Seop. At the General Shareholders Meeting held in March, our shareholders offered approval of the new management team and the Board. POSCO Holdings has defined its new corporate vision as materials for tomorrow, innovation for excellence.

To achieve this vision, we have identified seven major initiatives and 30 specific action items that are already under implementation. Before delivering the Q1 earnings report, I'd like to open the meeting with a brief introduction of what investors and shareholders may want to know most, which is what the new CEO and the management team would like to pursue as our strategic way forward.

First, in the group's core businesses, namely steel and rechargeable battery materials, we intend to focus our resources and capabilities. In steelmaking, our aim is to fortify our global competitiveness. Toward that goal, we will take the Lighthouse Factory Certification gained in 2019 on POSCO Smart Factory. Then by applying AI technology, we will take it up another notch to build an intelligent factory.

Additionally, by transitioning to an economically viable low-carbon production system, we will acquire unrivaled production and cost competitiveness. In the Battery Materials business, by actively investing in promising assets that have future growth potential, we will have a replete materials value chain with undisputed competence.

Second, EV market slowdown is being observed. The industry has gone into an adjustment period, but POSCO Group sees it differently. We believe that this is the right time to acquire native competencies in the battery materials business to get ahead of the race and to own breakthrough technologies. This is an opportunity for us....

For further details see: