Daehan Steel announced on the 30th that it recorded a consolidated operating loss of 1.42 billion won in the third quarter of this year, swinging to a loss from the same period last year. It also turned to a loss compared to the previous quarter's operating profit of 16.293 billion won.

Revenue increased. Third-quarter sales came to 359.459 billion won, up 17.4% from 306.188 billion won a year earlier. However, sales fell 7.3% compared to the previous quarter's 387.727 billion won.

Loss from continuing operations before income tax expense was 3.331 billion won, swinging to a loss both quarter-on-quarter and year-on-year. The company had posted profits of 11.882 billion won in the previous quarter and 17.07 billion won a year earlier. Net loss for the period was 3.795 billion won, a swing from the previous quarter's net profit of 8.867 billion won and also a loss compared to the year-ago net profit of 14.261 billion won. Net loss attributable to owners of the parent company was 4.641 billion won, turning to a loss both compared to the previous quarter and the same period last year.

■ Cumulative Performance Shows 'Sales Growth, Sharp Profit Decline'

Cumulative revenue for the first three quarters of this year totaled 1,051.529 billion won, up 15.8% year-on-year. In contrast, cumulative operating profit fell 10.9% to 15.361 billion won from 17.249 billion won a year earlier. Cumulative profit from continuing operations before income tax expense for the same period dropped 73.5% year-on-year to 9.305 billion won. Cumulative net profit plunged 83.3% to 5.239 billion won, while net profit attributable to owners of the parent company fell 92.3% to 2.32 billion won.

■ Third-Quarter Performance on Separate Financial Statements

On a separate financial statement basis, the company recorded third-quarter revenue of 203.147 billion won and an operating loss of 1.662 billion won. Net loss before income tax expense was 5.237 billion won, and net loss for the period was 4.644 billion won.

■ Liquidation of U.S. Subsidiary... Results Classified as 'Discontinued Operations'

Daehan Steel said that as liquidation proceedings for its consolidated subsidiary, Daehan Steel America, Inc., were set to begin in the second quarter of 2026, the subsidiary's results have been classified as discontinued operations. Revenue, operating profit, and profit from continuing operations before income tax expense are based on continuing operations excluding discontinued operations, while net profit and net profit attributable to owners of the parent company include results from discontinued operations.

The company explained that these results are provisional consolidated figures under Korean International Financial Reporting Standards (K-IFRS), and some details may change during the external auditor's accounting review.