Sales of 1.88 trillion won, operating profit of 233.5 billion won

Best quarterly earnings in company history

High-value-added projects drive record results

An aerial view of LS Electric's ultra-high-voltage transformer plant in Busan. [LS Electric]
An aerial view of LS Electric's ultra-high-voltage transformer plant in Busan. [LS Electric]

LS Electric announced Wednesday that it posted sales of 1.88 trillion won ($1.41 billion) and operating profit of 233.5 billion won in the third quarter — the best quarterly earnings in the company's history — up 54.4 percent and 131.7 percent, respectively, from the same period a year earlier.

The results extend LS Electric's operating profit streak to 100 consecutive quarters, running from the fourth quarter of 2001 through this year's third quarter — a first in the industry. Only 12 companies among South Korea's top 500 firms by sales have achieved 100 straight quarters in the black.

The company's order backlog stood at around 7 trillion won at the end of the third quarter, with new orders for the quarter reaching approximately 1.6 trillion won.

The strong performance was driven by expansion in high-value-added projects, including AI data center power solutions and ultra-high-voltage transformers. Leveraging its differentiated technology, LS Electric continued to win orders in ultra-high-voltage transformers, with sales in that segment growing 106 percent as a result.

The power distribution equipment business also maintained solid momentum, growing 32 percent from a year earlier. Unlike switchboards and ultra-high-voltage transformers — whose earnings can swing with project orders — distribution equipment consists of mass-produced products that are relatively insulated from broader economic cycles.

Overseas, North America stood out as the strongest growth driver. Third-quarter sales in North America reached approximately 500 billion won, a record for any single quarter. Sales at the company's Spanish subsidiary rose 120 percent year-on-year, while its Middle East subsidiary posted 61 percent growth.

"This milestone of 100 consecutive profitable quarters reflects the combined strength of our solid business portfolio spanning medium- and low-voltage distribution to ultra-high-voltage transmission, sustained investment in new businesses, and our global market expansion," an LS Electric official said. "With a stable earnings base in place and order growth accelerating in step with the AI-driven power infrastructure supercycle, we are poised to usher in an era of sustained long-term growth."


yeongdai@heraldcorp.com