Daehan Cable, Operating Profit of 48.2 Billion KRW Last Year... 22% Increase YoY

Expansion of Order Volume and Improvement of Overseas Subsidiary Performance

[Asia Economy Reporter Kim Pyeonghwa] Korea Electric Wire Co., Ltd. announced on the 22nd that it recorded an operating profit of 48.2 billion KRW, a 22% increase compared to the previous year, on a consolidated basis. Last year's sales increased by 23% to 2.4519 trillion KRW. This marks the first time in eight years since 2014 that sales exceeded 2 trillion KRW.

The company evaluated that the expansion of order volume and improvement in the performance of overseas subsidiaries were effective. Korea Electric Wire operates sales subsidiaries in the United States and the Netherlands, and production subsidiaries in Vietnam, South Africa, and Saudi Arabia, striving for localization of sales and production. The company assessed that close customer-oriented sales and securing competitiveness through these efforts drove the expansion of order volume.

[Image courtesy of Daehan Electric Wire]

As performance improved, corporate tax expenses increased. Due to a reduction in the valuation of deferred tax assets, net profit for the period decreased by 30% compared to the previous year, recording 20.3 billion KRW. The debt ratio fell to 82% at the end of last year, dropping to less than one-third compared to the previous year.

Korea Electric Wire stated that it will improve performance through aggressive order expansion and sales promotion in a stable management environment. A company official said, "We will respond to the protectionist trends of countries around the world by securing global production bases and expanding facilities. Our goal this year is to establish a foundation for long-term sustainable growth based on solid technology and price competitiveness."

Korea Electric Wire is currently constructing a submarine cable coastal factory in Dangjin, Chungnam, and an optical cable production factory in Kuwait. It also plans to secure new ultra-high voltage cable production facilities in Saudi Arabia.

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