Daehan Cable, Record H1 Consolidated Operating Profit of 66.2 Billion Won... "Expansion of Orders in US and Europe"

Achieved Over 80% of Last Year's Operating Profit... Operating Profit Margin in the 4% Range

Daehan Electric Wire recorded the highest-ever operating profit for the first half of the year, continuing its strong performance.

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

Daehan Electric Wire announced on the 30th that its consolidated operating profit for the first half of the year was provisionally estimated at 66.2 billion KRW, a 59% increase compared to the same period last year. Sales rose 13% year-on-year to 1.6529 trillion KRW.

Daehan Electric Wire stated that both consolidated operating profit and sales for the first half represent record highs. In terms of operating profit, more than 80% of last year's annual operating profit (79.8 billion KRW) was achieved early in the first half. The operating profit margin reached 4%, the highest since the first half of 2020.

Operating profit for the second quarter was 37.4 billion KRW, up 56% year-on-year and 30% quarter-on-quarter.

Daehan Electric Wire explained that the increase in performance was due to new orders and sales expansion focused on high-profit products. The company has concentrated its efforts on securing orders for high-profit products such as ultra-high voltage power grids, mainly in the United States and Europe.

It secured new orders worth 520 billion KRW in the United States this year. The performance of production subsidiaries in Vietnam (Taihan VINA) and South Africa (M-TEC) is also improving.

A Daehan Electric Wire official said, "We will maintain a large order backlog by expanding orders for high value-added products," adding, "We will enhance corporate value through strategic product orders such as submarine cables and high-voltage direct current (HVDC) cables."

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