LS ELECTRIC Co., Ltd. Posts Record Third-Quarter Results, Marks 100 Consecutive Quarters in the Black

[Financial News] LS ELECTRIC Co., Ltd. posted record quarterly results, buoyed by growth in the North American market and expanded sales of power solutions for AI data centers. 
LS ELECTRIC Co., Ltd. announced on the 21st that it recorded revenue of 1.8778 trillion won and operating profit of 233.5 billion won in the third quarter of this year. These figures were up 54.4% and 131.7%, respectively, from the same period last year. Compared with the previous quarter, revenue rose 19.1% and operating profit increased 30.8%, with both reaching record quarterly highs. Cumulative operating profit through the third quarter exceeded the full-year figure for last year.
With these results, LS ELECTRIC Co., Ltd. has posted operating profits for 100 consecutive quarters since the fourth quarter of 2001. The company attributed this to maintaining a diversified business portfolio and a stable profit structure over an extended period.
High-value projects, including power solutions for AI data centers and ultra-high-voltage transformers, drove growth in results. Revenue from switchgear, a key product, rose 120% from the same period last year, while revenue from ultra-high-voltage transformers increased 106%.
Revenue from distribution equipment also rose 32% over the same period. Unlike switchgear and ultra-high-voltage transformers, whose results vary depending on project orders, distribution equipment is mass-produced and is relatively less affected by economic fluctuations, the company said. In effect, growth in scale through large projects and steady sales growth in mass-produced products both supported results.
By region, growth in the North American market stood out. Third-quarter revenue in North America was approximately 500 billion won, up about 25% from the previous quarter and a record high.
LS ELECTRIC Co., Ltd. is increasing investment in local production hubs, including “LS ELECTRIC Utah” in Utah and the “LS Electric Bastrop Campus” in Texas, to meet demand for power infrastructure in North America. The company plans to strengthen its market presence by expanding local production capacity and enhancing the competitiveness of high-value products.
Revenue at the company’s entities in Spain and the Middle East also increased by approximately 120% and 61%, respectively, from the same period last year. In Europe, the company is responding to demand for power equipment driven by the expansion of renewable energy and modernization of power grids, while in the Middle East it expects further growth from increased investment in energy infrastructure.
At the end of the third quarter, the order backlog stood at approximately 7 trillion won, and new orders for the quarter totaled approximately 1.6 trillion won.
An LS ELECTRIC Co., Ltd. official said, “This milestone of 100 consecutive quarters in the black reflects the combination of a robust business portfolio spanning medium- and low-voltage distribution to ultra-high-voltage transmission, steady investment in new businesses, and the results of expanding in global markets. With our stable earnings base and order growth gathering momentum amid the AI-driven power infrastructure supercycle, we will usher in an era of sustained high growth.”

[email protected] Park Ji-yeon Reporter