Second Quarter Sales Surpass 900 Billion KRW... Order Backlog at Record High
Sales and Operating Profit Grow for Three Consecutive Quarters
Extra-High Voltage Project Revenue and Overseas Subsidiary Performance Drive Results
Company Holds Investor Relations Session and Shares Submarine Cable Business Status
On July 31, Taihan Electric Wire announced that its sales in the first half of the year exceeded 1.7 trillion KRW, setting a new all-time record.
On this day, Taihan Electric Wire disclosed on a preliminary basis that, according to its consolidated financial statements, sales for the first half of the year reached 1.7718 trillion KRW and operating profit stood at 55.7 billion KRW. Sales increased by 7.2% compared to 1.6529 trillion KRW in the same period last year, marking the highest performance in the company’s history.
In the second quarter, sales amounted to 916.4 billion KRW and operating profit was 28.6 billion KRW. Compared to the previous quarter, the first quarter, sales rose by 7.1% and operating profit increased by 5.4%. Since the fourth quarter of 2024, both sales and operating profit have grown for three consecutive quarters. Notably, quarterly sales surpassed 900 billion KRW for the first time in about 15 years since the third quarter of 2010.
Taihan Electric Wire attributed these results to the expansion of new orders and revenue realization in the global market. In fact, the company secured multiple extra-high voltage cable projects in major markets such as Europe, the United States, and Asia, and as of the end of the first half, its order backlog reached a record high of approximately 2.9 trillion KRW.
Production and sales subsidiaries based overseas also contributed to the rise in sales. Sales from European sales subsidiaries centered in Germany and the Netherlands, as well as production subsidiaries such as M-tec in South Africa, increased compared to the previous year.
Operating profit showed a slight decline compared to last year, due to the temporary concentration of relatively low-margin projects and the occurrence of non-recurring, one-off costs related to new product development. However, considering that operating profit reached an all-time high of 66.2 billion KRW in the first half of last year, the company appears to be maintaining solid performance.
On this day, Taihan Electric Wire held an investor relations (IR) session for institutional investors and analysts, where it explained the main details of its second-quarter results and key issues. The company particularly emphasized its global competitiveness in the submarine cable business and announced that it is fully preparing to participate in major domestic and international submarine cable projects, including the West Coast Energy Highway. It also explained that it is thoroughly reviewing measures to minimize the impact of tariffs imposed by the United States.
A Taihan Electric Wire representative stated, "Based on robust demand driven by increased global power infrastructure investment and the replacement of aging power grids, we will expand orders by strengthening the competitiveness of high value-added products such as submarine cables and HVDC cables. In addition to enhancing corporate value through improved performance, we will further solidify our position as a leading company in the global power infrastructure market by expanding IR activities and maintaining close communication with shareholders and stakeholders."
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