SEOUL, February 10 (AJP) - South Korea’s GS Group reported stronger fourth-quarter earnings on improved refining margins, although full-year profit declined as weakness in petrochemicals and power generation weighed on results.
In a regulatory filing on Monday, GS said fourth-quarter revenue rose 1.4 percent from a year earlier to 6.49 trillion won, while operating profit jumped 23.3 percent to 767.2 billion won.
For full-year 2025, however, revenue slipped 0.3 percent to 25.18 trillion won and operating profit fell 4.9 percent to 2.93 trillion won.
Energy affiliate GS Caltex led quarterly gains, posting a 136.5 percent surge in fourth-quarter operating profit to 653.4 billion won, while revenue rose 2.5 percent to 11.75 trillion won. For the full year, operating profit increased 61.3 percent to 884 billion won despite a 6.3 percent decline in revenue to 44.63 trillion won.
GS Caltex said refining performance improved in the fourth quarter as product margins strengthened despite falling crude prices. Oil prices declined amid expectations of increased supply following higher OPEC output, but disruptions at overseas refineries and seasonal demand helped widen product spreads, supporting profits.
GS Energy, another key subsidiary, reported fourth-quarter revenue of 1.66 trillion won and operating profit of 701.9 billion won, up 18 percent and 65 percent respectively from a year earlier.
Within GS Energy, however, performance diverged by business segment. Power and district heating operations saw revenue fall 15 percent to 402.4 billion won, with operating profit declining 22 percent to 55.4 billion won due to lower electricity prices.
A GS official said overall performance in 2025 was weighed down by persistently weak petrochemical margins amid global oversupply and softer demand, while profitability at power-generation affiliates declined.
* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
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