Dukwon Electric Wire & Cable Holds Corporate Presentation... "Full-Scale Launch of Submarine Cable Projects Including Yeonggwang Nakwol Project"

Q2 Performance-Based Division and Overseas Region Results Introduction
Order Backlog Hits Record High of 20 Trillion KRW... Subsea Cable Vision Presented

Daehan Electric Wire & Cable declared to investors that it will accelerate domestic and international submarine cable projects, including the Yeonggwang Nakwol offshore wind power project.

On the 2nd, Daehan Electric Wire held a corporate briefing session for institutional investors and analysts at NH Financial Tower in Yeouido, Yeongdeungpo-gu, Seoul.
[Photo by Daehan Electric Wire]

Daehan Electric Wire & Cable announced on the 2nd that it held an investor relations (IR) meeting for institutional investors and securities analysts at NH Financial Tower in Yeouido, Yeongdeungpo-gu, Seoul. The company introduced its second-quarter performance and ongoing projects and conducted a Q&A session.

Daehan Electric Wire & Cable recorded an operating profit of 37.4 billion KRW for the second quarter on a consolidated basis and a cumulative operating profit of 66.2 billion KRW for the first half of the year. The first half operating profit is the highest since consolidated profit and loss measurement began. Sales increased in the ultra-high voltage cable, industrial wire, and materials sectors, and overseas subsidiaries in the U.S., Vietnam, and Europe also saw sales growth compared to the previous year.

As of the end of the second quarter, the order backlog reached 2.0055 trillion KRW, setting a new all-time high. This year alone, the company secured new projects worth approximately 520 billion KRW in the U.S., marking the largest achievement since its entry into North America in the early 2000s.

Financial soundness was also reported to be high. The debt ratio has been maintained below 100% since 2022, down from 266.40% in 2021. As of the end of the second quarter, it stood at 74.16%. The current ratio was 234%, and the reliance on borrowings was maintained at 30%. On the 26th of last month, NICE Credit Rating upgraded the company’s credit rating to 'A' for the first time in two years.

At the briefing, Daehan Electric Wire & Cable presented the achievements and vision of its submarine cable business. It shared the results of domestic and international projects such as the Southwest Sea offshore wind power, which have been achieved since starting the submarine cable business and research in 2009, as well as recently secured production and construction capabilities.

The company announced to investors that it plans to complete the second phase of the submarine cable Plant 1 construction on schedule and to fully launch domestic and international projects starting with the Yeonggwang Nakwol project. It also stated that by investing in the submarine cable Plant 2, it will become a key supplier of ultra-high voltage direct current (HVDC) submarine cables.

Daehan Electric Wire & Cable explained that it expects a shortage of submarine cable supply to continue for more than 10 years, providing many business opportunities for the company.

A Daehan Electric Wire & Cable IR representative said, "We will address investors’ questions on key issues and gather diverse opinions," adding, "We will continue communication to enhance the company’s value."

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