LS Electric Reports Q2 Operating Profit of 178.5 Billion Won, Up 64.4% Year-on-Year

Quarterly Results Reach All-Time High Amid Power Supercycle
Quarterly Revenue in North America Surpasses 400 Billion Won

LS Electric has set new quarterly records for both revenue and operating profit, driven by growing global demand for power infrastructure.

On July 23, LS Electric announced provisional consolidated results for the second quarter of this year: revenue reached 1.577 trillion won and operating profit was 178.5 billion won. Compared to the same period last year, revenue increased by 32.2% and operating profit surged by 64.4%. Quarter-on-quarter, revenue was up 14.6% and operating profit rose 41.0%. These figures surpass the previous highest quarterly results set in the fourth quarter of last year, marking the highest quarterly performance since the company's founding.

LS Electric Texas Bastrop Campus View. LS Electric

New orders in the second quarter totaled approximately 2.1 trillion won, with order backlog increasing by about 1.4 trillion won versus the previous quarter to stand at around 7 trillion won.

The performance was driven by the data center power distribution business and the ultra-high voltage transformer sector. Revenue from power distribution solutions grew with increased investments in AI data center construction and advanced manufacturing facilities, while ongoing global demand for the replacement of aging power grids fueled robust growth in the ultra-high voltage transformer business.

Second-quarter revenue from ultra-high voltage transformers soared by 91.2% year-on-year, thanks to stabilized production and expanded shipments from the second ultra-high voltage transformer plant in Busan, completed last year. Revenue at LS Power Solutions, the Group’s dedicated ultra-high voltage transformer subsidiary, also rose by approximately 39% compared to the previous year.

By region, results in the North American market were particularly strong. LS Electric set a new regional quarterly record, generating about 400 billion won in revenue from North America alone. In response to rising local demand, the company is ramping up investment in key production hubs, including its Utah subsidiary in the United States and its Bastrop, Texas campus.

Growth continued at other core locations as well: Europe (21% increase in sales at the Spain subsidiary), the Middle East (42% increase in subsidiary sales), and ASEAN (34% increase in subsidiary sales in Vietnam). In the energy storage system (ESS) market, the company secured contracts worth approximately 130 billion won in the second quarter alone.

An LS Electric representative stated, "Amid the explosive increase in power infrastructure demand across global markets—including North America—orders have grown for high value-added products such as power distribution solutions and ultra-high voltage transformers, resulting in record-breaking performance. Moving forward, we plan to drive further results in next-generation power solutions including high voltage direct current (HVDC) and low voltage direct current (LVDC), accelerating our expansion of global market share."

This content was produced with the assistance of AI translation services.