LS Eco Energy Reports Q3 Operating Profit of 12.5 Billion KRW, Up 14% YoY

LS Eco Energy recorded its highest-ever performance in the third quarter of this year.

LS Eco Energy announced on the 17th that its operating profit for the third quarter was tentatively estimated at 12.5 billion KRW, a 14% increase compared to the same period last year.

During the same period, sales reached 223.4 billion KRW, and net profit was 8.4 billion KRW, increasing by 33% and 227%, respectively.

LS Eco Energy Vietnam Manufacturing Corporation exterior. [Photo by LS Eco Energy]

LS Eco Energy analyzed that the increase in exports of high value-added products such as ultra-high voltage cables and LAN cables (UTP) in the European and North American markets contributed to the performance. In particular, it explained that exports of 10-gigabit class (CAT.6) LAN cables expanded due to the recovery of the North American construction market.

LS Eco Energy is expanding its ultra-high voltage cable business in the European and Asian markets through a cross-selling strategy with LS Cable & System, and has completed UL certification for aluminum underground (URD) cables to actively target the North American market.

Lee Sang-ho, CEO of LS Eco Energy, emphasized, "Demand for high value-added products such as ultra-high voltage cables and UTP continues to increase due to rising power demand and data usage," adding, "We plan to further enhance profitability through the expansion of high value-added product sales and cost reduction."