LS Cable Asia Achieves Annual Record with 26 Billion KRW Operating Profit Last Year

[Asia Economy Reporter Dongwoo Lee] LS Cable Asia announced on the 17th that it recorded provisional results of accumulated sales of 520.3 billion KRW and operating profit of 26 billion KRW last year. These figures represent an increase of 18% and 44%, respectively, compared to the previous year, with operating profit reaching an all-time high.

Fourth-quarter sales, reflecting seasonality, decreased by about 8% compared to the previous quarter to 125.8 billion KRW. On the other hand, operating profit increased by 9% from the previous quarter to 6.9 billion KRW, setting a new record. High-value-added project profits were reflected from the fourth quarter, improving profitability.

LS Cable Asia noted that while Vietnam's gross domestic product (GDP) increased by 7.02% last year, power supply shortages have intensified, and a full-scale power shortage is expected to occur starting this year.

To respond to the increasing power demand, LS Cable Asia is continuously investing in facilities. In addition to MV (medium voltage) cables and bus ducts for building power products, whose investments were completed last year, the company plans to use MV cables, with additional investments to be completed this year, as growth engines.

LS Cable Asia is the holding company of two production subsidiaries in Vietnam and one in Myanmar. Among the Vietnamese production subsidiaries, LS-VINA manufactures power cables such as HV (high voltage) and MV (medium voltage) cables and wire materials, while another production plant, LSCV, produces communication cables such as UTP and optical cables, as well as MV power cables. The Myanmar subsidiary produces LV (low voltage) power cables and overhead wires.

This content was produced with the assistance of AI translation services.