Operating Profit of KRW 15.3 Billion, Sales of KRW 228.3 Billion
Record-High Operating Profit Achieved
"Increase in Sales in Vietnam, Expanded Exports to Europe"
LS Eco Energy achieved record-breaking operating profit in the first quarter of this year. Both sales and net profit also reached all-time highs for a first quarter.
On May 7, LS Eco Energy announced its provisional results for the first quarter of this year, reporting sales of KRW 228.3 billion, operating profit of KRW 15.3 billion, and net profit of KRW 12.7 billion.
These figures represent increases of approximately 27.0%, 58.1%, and 59.9%, respectively, compared to the same period last year. For a first quarter, sales, operating profit, and net profit all marked the highest levels since the company was established in 1996. In particular, operating profit was the highest ever for any quarter in the company’s history.
This performance is attributed to the company’s rapid response to market changes, such as increased demand related to artificial intelligence (AI) data centers, renewable energy, and the expansion of global power grids.
LS Eco Energy is expanding its achievements in the Southeast Asian renewable power grid business. Its Vietnamese manufacturing subsidiary, LS-VINA, has been supplying cables to wind and solar power complexes in the Philippines, establishing itself as a key supply partner supporting the Philippine government’s energy transition policy.
LS Eco Energy explained, “An increase in distribution cable sales driven by the recovery of the domestic market in Vietnam, as well as expanded exports of extra-high voltage cables to Europe, also contributed to the improved results.”
Lee Sangho, CEO of LS Eco Energy, stated, “The simultaneous expansion of extra-high voltage cable exports to the European market and orders for power infrastructure in Southeast Asia are forming the two pillars of our performance growth. Based on a cross-selling strategy with our parent company, LS Cable & System, we will further strengthen our efforts to penetrate overseas markets.”
LS Eco Energy is also accelerating the global expansion of its eco-friendly portfolio, such as submarine cables and renewable power grid solutions, while strengthening cooperation with the Vietnamese government to respond to global supply chain risks, including China’s recent rare earth export controls.
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