Hyundai Steel Company financial statements, 6 years: Back to a profit in 2021 after a net loss of KRW 440.1bn in 2020
Consolidated financial statements for 2020–2025 and the 2026 half-year report that Hyundai Steel Company filed with DART, laid out by year. No interpretation or outlook.
Hyundai Steel Company financial statements, 6 years: Back to a profit in 2021 after a net loss of KRW 440.1bn in 2020
The consolidated financial statements in the 2020–2025 annual reports that Hyundai Steel Company (004020) filed with Korea’s DART electronic disclosure system, laid out by year. Figures from the 2026 half-year report cover a different period and are shown separately. Every figure below is taken as filed in the DART submissions; there is no interpretation or outlook. Amounts are in Korean won (KRW; bn = billion, tn = trillion).
1. Income statement — the sign of net income changed in 2021
| Fiscal year | Revenue | Revenue change | Operating income | Op. income change | Operating margin | Net income |
|---|---|---|---|---|---|---|
| 2020 | 18.02tn | — | 73.0bn | — | 0.4% | −440.1bn |
| 2021 | 22.85tn | +26.78% | 2.45tn | +3251.25% | 10.7% | 1.51tn |
| 2022 | 27.34tn | +19.65% | 1.62tn | −33.95% | 5.9% | 1.04tn |
| 2023 | 25.91tn | −5.22% | 798.3bn | −50.61% | 3.1% | 443.0bn |
| 2024 | 23.23tn | −10.37% | 159.5bn | −80.02% | 0.7% | 8.8bn |
| 2025 | 22.73tn | −2.12% | 219.2bn | +37.46% | 1.0% | 1.4bn |
Revenue was largest in 2022 at KRW 27.34tn and smallest in 2020 at KRW 18.02tn among the six years. It fell from the previous year 3 times: 2023 (−5.22%), 2024 (−10.37%), 2025 (−2.12%).
Operating income was largest in 2021 at KRW 2.45tn and smallest in 2020 at KRW 73.0bn. The operating margin was highest in 2021 at 10.7%.
Net income was largest in 2021 at KRW 1.51tn and smallest in 2020 at KRW −440.1bn.
2. Financial position — equity became 1.19x
| Fiscal year | Total assets | Total equity | Debt ratio | Current ratio |
|---|---|---|---|---|
| 2020 | 34.85tn | 16.69tn | 108.7% | 163.6% |
| 2021 | 37.04tn | 18.26tn | 102.9% | 171.1% |
| 2022 | 36.80tn | 19.13tn | 92.4% | 162.5% |
| 2023 | 35.22tn | 19.50tn | 80.7% | 149.7% |
| 2024 | 34.74tn | 19.33tn | 79.7% | 148.8% |
| 2025 | 34.44tn | 19.84tn | 73.6% | 152.7% |
The debt ratio was highest in 2020 at 108.7% and lowest in 2025 at 73.6%.
Over the same period total assets went from KRW 34.85tn to KRW 34.44tn (0.99x), and total equity went from KRW 16.69tn to KRW 19.84tn and became 1.19x.
The current ratio was above 100% in all six years, ranging from 148.8% to 171.1%.
3. Cash flow — positive in all six years
| Fiscal year | Operating cash flow | Net income | ROE |
|---|---|---|---|
| 2020 | 2.01tn | −440.1bn | −2.6% |
| 2021 | 2.00tn | 1.51tn | 8.2% |
| 2022 | 2.18tn | 1.04tn | 5.4% |
| 2023 | 1.95tn | 443.0bn | 2.3% |
| 2024 | 1.78tn | 8.8bn | 0.1% |
| 2025 | 2.05tn | 1.4bn | 0.0% |
Operating cash flow was positive in all six years. It was largest in 2022 at KRW 2.18tn and smallest in 2024 at KRW 1.78tn.
ROE was highest in 2021 at 8.2% and lowest in 2020 at −2.6%.
4. Latest half-year report (end of H1, 62nd fiscal period, consolidated basis)
The period differs, so these figures cannot be compared directly with the annual tables above. Only cumulative figures for the same period of the previous year are compared.
| Item | 2026 cumulative | Same period last year | Change |
|---|---|---|---|
| Revenue | 11.85tn | 11.51tn | +2.94% |
| Operating income | 73.4bn | 82.7bn | −11.28% |
| Net income | −27.2bn | −17.0bn | — |
| Finance income | 192.8bn | 189.4bn | +1.82% |
| Operating cash flow | 983.6bn | — | — |
At the end of the period, total assets were KRW 35.77tn, total liabilities KRW 15.40tn and total equity KRW 20.37tn.
The cumulative operating margin was 0.6%.
5. Ownership, dividends and staff (as of the 2025 annual report)
- Largest shareholder: Kia Corporation, stake 17.27%
- Cash dividend per share KRW 500, dividend yield 1.50%
- Employees: 11,694, average pay per employee KRW 113m
How to read this
This page lays out the filed figures by year and nothing more. Financial statements do not say why the numbers moved, so neither do we.
The order of publication follows revenue in the latest fiscal year and has nothing to do with the content.
To check the same figures, search for the company on DART and open the consolidated financial statements in its annual reports. Every number here was computed from the 2020–2025 annual reports and the interim report downloaded through the OpenDART API on 2026-10-02; ratios divide the filed account amounts.
This article is for information only and is not investment advice.