[Featured Stock] LS Rises on Large-Scale Order Win
[Asia Economy Reporter Hwang Yoon-joo] LS is showing an upward trend in early trading as expectations for improved 2023 performance grow due to a large-scale order received by its subsidiary LS Cable & System.
As of 10:13 AM on the 13th, LS is trading at 70,000 KRW, up 0.29% (200 KRW) from the previous day.
On the previous day (the 12th), LS announced that its subsidiary LS Cable & System will supply HVDC (High Voltage Direct Current) cables worth 400 billion KRW to the Vanguard offshore wind farm in the North Sea, UK. This is the largest contract won by a domestic cable company in Europe.
Hong Jun-hyuk, a researcher at Samsung Securities, evaluated, "Assuming an operating profit margin of 10%, this order amount corresponds to 2% of the expected 2023 sales and 5% of operating profit."
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He added, "The UK order will be recognized as sales starting from the third and fourth quarters of next year," and "We expect significant margin improvement beginning in 2023."
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