Photograph 1) Panoramic view of LS Eco Energy’s production plant in Vietnam

Photograph 2) LS Eco Energy CI

 

■ Year-on-year increase of 33% in sales, 14% in operating profit and 227% in net profit
■ Exports of high-voltage cables and LAN cables to European and North American markets drive growth
■ Expectation of highest ever annual performance through new business promoted in cooperation with LS Cable & System


LS Eco Energy (CEO Sang-ho Lee) recorded its best performance ever in the third quarter of this year, achieving its highest results for three consecutive quarters from Q1 to Q3. 

LS Eco Energy announced on the 17th that it had recorded a provisional third-quarter performance of KRW 223.4 billion in sales, KRW 12.5 billion in operating profit and KRW 8.4 billion in net profit. 

These figures represent increases of 33%, 14% and 227%, respectively, compared to sales of KRW 167.5 billion, operating profit of KRW 11.1 billion and net profit of KRW 2.6 billion in the same period last year.

A major factor contributing to this achievement was an increase in the exports of high value-added high-voltage cables and LAN cables (UTP) to the European and North American markets. In particular, for 10-gigabit (CAT.6) LAN cables, an expansion of exports due to the recovery of the North American construction market contributed greatly to improving performance.

LS Eco Energy is expanding its high-voltage cable business in the European and Asian markets through a ‘cross-selling’ strategy with LS Cable & System, and has started aggressively advancing into the North American market since receiving UL certification for its aluminum underground (URD) cables.

“Due to the increase in electricity demand and data usage, there is a continuous increase in demand for high value-added products such as high-voltage cables and UTP,” said Lee Sang-ho, CEO of LS Eco Energy. “We plan to further increase profitability by expanding sales and reducing costs of high value-added products.”

LS Eco Energy is expecting to achieve its highest annual performance ever, and plans to accelerate growth through new business, including submarine cable business in Europe and Asia, based on collaboration with LS Cable & System.