LS Cable Asia Reports Record Q2 Sales of 234.3 Billion KRW and Operating Profit of 8.7 Billion KRW

Impact of Increased Sales of Power Cables and High-Value Communication Cables for North America

LS Cable Asia Vietnam Ho Chi Minh LSCV Panorama

[Asia Economy Reporter Park Sun-mi] LS Cable Asia posted record-high performance in the second quarter of this year, driven by increased sales of power cables and high-value-added communication cables for the North American market.

On the 13th, LS Cable Asia announced that its consolidated preliminary results for the second quarter recorded sales of 234.3 billion KRW and operating profit of 8.7 billion KRW. Compared to the second quarter of last year, sales increased by 9% and operating profit by 1%.

Following the first quarter, the second quarter also achieved the highest performance ever. The cumulative results for the first half of the year set a new record with sales of 429.9 billion KRW and operating profit of 15.6 billion KRW. This was the result of the expansion of the power cable business and increased supply of communication cables to the North American market.

LS Cable Asia is the leading local company holding a 22% share of the Vietnamese power cable market. It is expanding its business scale in line with the growth of the Vietnamese power market and the spread of renewable energy. Additionally, for high-value-added communication cables, more than 90% of production volume is exported to the North American market.

The company stated, “Sales of high-value-added products such as communication cables and bus ducts are increasing in Vietnam, and exports are expanding due to increased infrastructure investment in North America,” adding, “We will improve profit margins by increasing the proportion of high-value-added products.”

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