LS Eco Energy Posts Record Q3 Results... Revenue of KRW 351.5 Billion, Operating Profit of KRW 22.2 Billion

Results up 50% year on year... record high for a third quarter
Strong performance in power cables and bus ducts in North America and Europe

LS Eco Energy posted record-high third-quarter results, driven by increased investment in power grids in Europe and North America and rising demand from artificial intelligence data centers (AIDCs). Its cumulative results for the first three quarters of this year alone exceeded its full-year revenue and operating profit last year.

LS Eco Energy disclosed on October 20 that its preliminary consolidated results for the third quarter were revenue of KRW 351.5 billion, operating profit of KRW 22.2 billion, and net profit of KRW 14 billion. Compared with the same period last year, revenue rose 51.0% and operating profit increased 50.2%. Both revenue and operating profit were the highest ever for a third quarter.

A view of LS Eco Energy's Vietnamese production subsidiary, LSCV. LS Eco Energy

Cumulative revenue from the first through the third quarter of this year totaled KRW 987.3 billion, while operating profit reached KRW 67.5 billion. Both figures exceeded the full-year totals last year: revenue of KRW 960.1 billion and operating profit of KRW 66.8 billion. The company is now on track to set a new annual record for the third consecutive year.

The strong results were driven by a sharp increase in exports of power cables and bus ducts, particularly to advanced markets. The expansion of global power grids coincided with the construction of additional AIDCs. Demand for power infrastructure also continued amid the shift to renewable energy. Bus ducts, high-capacity power distribution systems, showed especially strong growth. Global Big Tech companies expanded investment in ultra-large data centers, particularly in Southeast Asian hubs such as Malaysia and Indonesia. Demand for the construction of local high-rise buildings also remained steady. As a result, third-quarter bus duct revenue surged to two to three times its level in the same period last year.

A bus duct is a high-capacity power distribution system in which copper or aluminum conductors are insulated and housed in a metal enclosure. It reduces the volume of equipment required and reliably supplies large amounts of current, making it a key power system used primarily in high-rise buildings and large computer rooms.

LS Eco Energy plans to further strengthen its market position through investment in new facilities. The company is expanding production capacity for high-capacity bus ducts at LSCV, its manufacturing subsidiary in Ho Chi Minh City, Vietnam. Full-scale mass production is scheduled to begin in the second half of next year. The company aims to boost profitability by securing orders from global Big Tech companies ahead of competitors.

The company is also developing its rare earth metals business as a new growth engine. Last month, it began building a facility at the LSCV plant to produce samarium metal for the defense industry, with mass production scheduled to begin by the end of this year. Samarium is a rare earth element that retains its magnetic properties even at high temperatures. It is used as a permanent magnet material in military precision-guided weapons and in radar and aerospace motor components that must withstand high temperatures.

Lee Sang-ho, CEO of LS Eco Energy, said, "With new AIDC and rare earth businesses adding to our expanding exports to Europe and North America, we expect revenue and operating profit to continue growing."

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