Daehan Electric Wire, Operating Profit of 78.4 Billion KRW Last Year... Highest Performance in 15 Years

Last Year's Sales Increased by 16% to 2.8456 Trillion Won

Daehan Electric Wire announced its preliminary consolidated results for last year on the 23rd, recording sales of KRW 2,845.6 billion, a 16% increase compared to the previous year, achieving the highest performance in 12 years since 2011. Last year's operating profit increased by 63% year-on-year to KRW 78.4 billion, and net profit surged 207% to KRW 67.0 billion. Both operating profit and net profit also marked the highest levels in 15 years since 2008.

Daehan Electric Wire Dangjin Factory Panorama / Photo by Daehan Electric Wire

Daehan Electric Wire expanded its performance last year by increasing orders in major global markets such as the United States, Europe, and the Middle East. Since joining the Hoban Group in 2021, it has established a stable management environment and focused on targeting the global market, resulting in cumulative annual orders exceeding KRW 30 billion in the U.S. for both 2022 and last year. It also achieved success in pioneering new ultra-high voltage cable markets in Germany and Bahrain.

A representative of Daehan Electric Wire stated, "With expanding investments related to renewable energy and increasing demand for replacing aging power grids mainly in advanced countries such as the U.S. and Europe, the outlook for the global power infrastructure industry is very bright," adding, "We will continue to expand new orders and promote sales through close local management by actively utilizing overseas subsidiaries and branches, maintaining a solid upward trend in performance this year as well."

They also announced, "We will lay the foundation for sustainable growth and continuously enhance corporate value through new investments such as constructing an undersea cable factory and securing global production bases, as well as expanding orders for strategic products like HVDC cables."

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