ILJIN Electric announced on the 13th that it recorded an operating profit of 71.6 billion won in the first half of this year, a 67.5% increase compared to the same period last year. This is the company's highest performance since its establishment.
During the same period, sales totaled 980.2 billion won, marking a 26.5% increase. In the second quarter alone, sales and operating profit rose by 20.5% and 53.4%, respectively.
The surge in demand for transformers in North America due to the expansion of artificial intelligence (AI) data centers and increased investment in renewable energy led to the rise in performance. The overall contribution of the transformer business to sales and operating profit stands at 16% and 58%, respectively.
In the first half of this year, sales in the Americas region, where the company's transformer business is concentrated, doubled to 151 billion won compared to the same period last year. It was found that 44% of the transformer sales in the first half occurred in the Americas region.