posco holdings inc reported its 2022 results friday here is what we watched net profit the south korean steelmakers net profit fell 51 to 3560 trillion won 289 billion in 2022 revenue for the full year revenue rose 11 to krw84750 trillion while operating profit fell 48 to krw4850 trillion largely in line with the companys preliminary forecasts below consensus the companys annual net profit missed the factsetcompiled consensus forecast of krw4455 trillion flood damage the belowconsensus 2022 earnings reflect damage caused by a september storm that crippled operations at poscos main steel mill for months in south korea the company said the storm caused an estimated krw13 trillion operating loss operations returned to normal on jan 20 outlook most market analysts expect poscos earnings to improve from the first quarter of 2023 on higher steel prices following the easing of pandemic restrictions in china poscos expanding batterymaterial business is also set to spur its longerterm growth posco said it plans to invest a total of krw11 trillion in 2023