Daehan Electric Wire, Q1 Operating Profit of 28.8 Billion KRW... Highest in 54 Quarters

63% Increase YoY
Sales Reach 788.5 Billion KRW... Highest Since 2011

Daehan Electric Wire announced on the 29th that its operating profit for the first quarter of this year reached 28.8 billion KRW, a 63% increase compared to the same period last year. This is the highest quarterly performance since the second quarter of 2010.

During the same period, sales increased by 12% to 788.5 billion KRW. Sales also achieved the highest level since the second quarter of 2011. The operating profit margin rose by about 45% to 3.65%.

Exterior view of Daehan Electric Wire Dangjin Plant. [Photo by Daehan Electric Wire]

Daehan Electric Wire cited the promotion of sales based on a high order backlog as a key factor for the improved performance. In response to the growing demand for power grids due to advancements in artificial intelligence (AI) and the expansion of renewable energy, as well as the approaching replacement period for aging power grids, Daehan Electric Wire has been expanding orders centered on high-profit product lines in major countries such as the United States, Europe, and the Middle East. As a result, the order backlog as of the end of last year was 1.7359 trillion KRW, an increase of about 15% compared to the previous year.

A representative from Daehan Electric Wire explained, "We will enhance our performance by expanding sales while maintaining a high order backlog through the expansion of orders for high value-added products. We will drive sustainable growth and increase corporate value through the localization of orders and production of strategic products such as submarine cables and HVDC cables."

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