LS Group's revenue and operating profit last year hit an all-time high since the group was launched in 2003. Thanks to the AI-driven power supercycle (boom), the order backlogs of power infrastructure subsidiaries such as LS Cable & System and LS Electric increased.
LS Group said on the 12th that last year's revenue was 45.7223 trillion won and operating profit was 1.4884 trillion won. Compared with a year earlier, revenue and operating profit rose 9.1% and 23.1%, respectively. LS Group said the increase in annual revenue and operating profit was thanks to LS Cable & System and LS Electric. LS Cable & System makes cables, and LS Electric makes power equipment such as transformers and switchboards.
The two companies expanded orders focused on high value-added products based on total solutions across transmission, substation, and distribution—from ultra-high-voltage and submarine cables to ultra-high-voltage transformers, switchboards, and bus ducts—in power infrastructure areas such as global power grids and AI data centers. Through this, the two companies secured order backlogs exceeding 12 trillion won in global markets including the United States and Europe by last year.
The expansion of LS MnM's net profit also had a positive impact. Along with increased revenue from higher copper prices, LS MnM saw a sharp rise in net profit by maximizing the profitability of sulfuric acid and precious metals. Major affiliates such as LS Mtron, E1, and Inveni (INVENI) increased profitability, including operating profit, through establishing a foothold in the North American injection molding machine market, improved trading LPG performance, and expanded investment returns driven by strengthened investment expertise.
To sustain growth, LS Group is focusing on fostering new businesses in key minerals such as precursors and nickel sulfate for secondary batteries, as well as rare-earth permanent magnets, in addition to its existing power infrastructure business. LS-L&F Battery Solution and LS MnM are building battery materials plants to produce precursors and nickel sulfate at the Saemangeum National Industrial Complex and the Onsan National Industrial Complex, respectively, to establish a battery value chain.
LS Cable & System is discussing with the state of Virginia in the United States the establishment of a rare-earth permanent magnet plant, an essential material across advanced industries such as electric vehicles (EVs), wind turbines, robots, fighter jets, and UAM (urban air mobility). To this end, LS plans to invest 7 trillion won in Korea and 5 trillion won overseas over the next five years to achieve Vision 2030 of 50 trillion won in assets and to strengthen a future-oriented business portfolio.