Taihan Cable & Solution(001440) achieved its biggest quarterly results ever, based on competitiveness in extra-high-voltage and subsea cables and global business capabilities.
Taihan Cable & Solution disclosed on the 30th that, on a consolidation basis, second-quarter revenue was 1.1987 trillion won, up 30.8% from a year earlier, and operating profit was 60.8 billion won, up 113% on a provisional tally.
On a cumulative basis for the first half, revenue was 2.282 trillion won and operating profit was 121.3 billion won. Compared with the cumulative results for the first half of last year, the figures rose 28.8% and 117.8%, respectively.
The latest results were driven by extra-high-voltage and subsea cable businesses. In addition to gains from entering overseas markets such as North America and Singapore, revenue from major domestic power grid projects was added.
Orders are also increasing. New orders in the second quarter reached 727.2 billion won, and the order backlog at the end of the quarter was 4.0629 trillion won. This was due to rising demand for extra-high-voltage cables following expanded investment in domestic and overseas power grids.
Taihan Cable & Solution emphasized at an investor relations (IR) session held that day its contract win for the national core power grid project "500kV HVDC East Coast–East Seoul construction (EP2 phase)." Through this project, the company proved its execution capabilities covering the design, production, testing, and construction of HVDC cables, and it plans to target major domestic power grid projects and overseas HVDC markets.
A Taihan Cable & Solution official said, "With the spread of AI data centers and expanded investment in power grids, the extra-high-voltage and subsea cable markets are showing growth," adding, "Based on our expanded order backlog, we will continue stable growth while strengthening our position in global markets by focusing on high value-added businesses such as HVDC and subsea cables."