LS Cable Asia Reports Q3 Operating Profit of 11.1 Billion KRW... 'Quarterly Record High'

LS Cable Asia announced on the 2nd that it achieved its highest quarterly performance with an operating profit of 11.1 billion KRW in the third quarter of this year.

The third quarter operating profit increased by approximately 18% compared to 9.4 billion KRW in the same period last year. The operating profit margin reached a quarterly record high of 6.6%, more than double the 2-3% level typical of the domestic cable industry. While third quarter sales were 167.5 billion KRW, down 13.8% from 194.3 billion KRW in the same period last year, profitability improved.

LS Cable Asia Vietnam Ho Chi Minh LSCV Panorama

The company explained that the expansion of exports of high value-added extra-high voltage cables from its Vietnam production subsidiary LS-VINA to Europe was a major factor in the improved performance.

Regarding the decline in sales, the company cited "the slow recovery of the domestic Vietnamese economy" and expressed expectations that "due to large project orders following the announcement of Vietnam's 8th Power Development Plan in May and the relocation of global companies' production bases to Vietnam, performance will improve in the fourth quarter." It added, "LS Cable Asia is the number one cable company in Vietnam producing high value-added extra-high voltage cables," and "recently signed an MOU with PTSC, a subsidiary of PetroVietnam, to cooperate on submarine cable projects in Vietnam and ASEAN countries, seeking to expand eco-friendly businesses."

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