LS Eco Energy posts record results, with third-quarter operating profit of 22.2 billion won

[Financial News] LS Eco Energy posted record results in the third quarter of this year. Expanded exports of power cables and bus ducts to Europe and North America pushed its cumulative earnings through the third quarter above last year's full-year results. The company appears on course to set new records for a third consecutive year.
LS Eco Energy said on the 20th that, on a consolidated basis, it posted preliminary third-quarter revenue of 351.5 billion won and operating profit of 22.2 billion won. These figures were up 51.0% and 50.2%, respectively, from the same period last year.
Both revenue and operating profit reached record highs on a cumulative basis through the third quarter. Cumulative revenue through the third quarter was 987.3 billion won and operating profit was 67.5 billion won, exceeding last year's full-year revenue of 960.1 billion won and operating profit of 66.8 billion won.
The rapid growth in LS Eco Energy's results is attributed to expanded exports of power cables, bus ducts and other products to Europe and North America. Increased investment in global power grids amid the growth in artificial intelligence (AI) data centers, as well as rising demand for power infrastructure amid the shift to renewable energy, contributed to the growth.
In particular, bus duct revenue was two to three times higher than in the same period last year. The company attributed the sharp rise in demand for bus ducts to global tech giants expanding investments in hyperscale data centers and construction of supertall buildings in Malaysia and Indonesia.
LS Eco Energy plans to increase orders from global tech giants and improve profitability through new investment in bus ducts for AI data centers. To that end, it will build high-capacity bus duct production facilities at LSCV in Ho Chi Minh City, Vietnam, and begin mass production in the second half of next year.
The company is also developing its rare-earth metals business as a new growth engine. Last month, it began building a facility at LSCV to produce samarium metal for defense use and plans to begin mass production within the year.
LS Eco Energy CEO Lee Sang-ho said, “We expect revenue and operating profit to continue growing as AIDC and new rare-earth businesses add to the expansion of exports to Europe and North America.”
[email protected] Park So-hyeon Reporter