Sales of 412.5 Billion Won
Exports to Europe and North America Drive Performance
LS Eco Energy achieved its highest-ever performance in the first half of this year.
LS Eco Energy announced on the 18th that it recorded sales of 412.5 billion KRW, operating profit of 24.4 billion KRW, and net profit of 21 billion KRW in the first half of this year.
Sales increased by 13% from 363.7 billion KRW last year, while operating profit and net profit rose by 118% and 1627%, respectively, from 11.2 billion KRW and 1.2 billion KRW.
In particular, operating profit reached a level comparable to last year's annual performance, marking the highest quarterly and half-year figures ever. Operating margin and net profit margin also hit record highs at 5.9% and 5.1%, respectively.
The company stated, "The surge in exports of high value-added products such as ultra-high voltage cables and LAN (UTP) cables to the European and North American markets drove this performance," adding, "We expect the highest-ever annual performance as well."
Especially, LAN cables produced at the Ho Chi Minh production subsidiary LSCV saw exports to the U.S. increase by more than 30% compared to the same period last year, thanks to the U.S. policy excluding Chinese products.
LS Eco Energy recently completed UL certification for aluminum underground (URD) cables, accelerating its entry into the U.S. market. The U.S. imposes high tariffs on Chinese aluminum, leading to a surge in sales of URD cables from countries other than China.
Additionally, LS Eco Energy is collaborating with LS Cable to expand its submarine cable business and establish a rare earth value chain in Europe and Asia.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
