LS Eco Energy reported on the 5th that its performance for last year included sales of 869 billion won and an operating profit of 44.8 billion won. This represents increases of 18.9% in sales and 51.8% in operating profit compared to the previous year, breaking records for both figures.
The company noted that the enhancement of its technological capabilities and rapid market response, aligned with global trends such as increased demand for AI data centers and expansion of the power grid, contributed to this success.
In particular, it was explained that the expansion of exports of high-value cables such as ultra-high voltage and unshielded twisted pair (UTP) cables, primarily to Europe and the United States, served as a key driver of growth. In the U.S. market, the export of UTP cables increased by about 15% compared to the previous year, contributing to performance enhancement due to the impact of the strategy to reduce reliance on China.
The company has continued stable growth by supplying cables for high-yield projects led by the Electricity of Vietnam (EVN), including large power plants and airport expansion projects in the Vietnamese market. LS Eco Energy maintains a dominant market position as the only manufacturer of ultra-high voltage cables in Vietnam.
Lee Sang-ho, the representative of LS Eco Energy, said, "We will expand our contracts for ultra-high voltage cables in the European market through cross-selling strategies with LS Cable & System and will start selling underground residential distribution (URD) and distribution cables in the U.S. market."