LS Marine Solution Achieves Record Quarterly Profit... Q3 Operating Profit of 7.2 Billion Won

Sales up 86%, Operating Profit up 77% Growth
"Strengthening Global Order Competitiveness"

LS Marine Solution achieved its highest quarterly profit ever in the third quarter. The company plans to strengthen its global order competitiveness by advancing as an integrated cable construction company covering both underwater and onshore sectors.

LS Marine Solution announced on the 15th that its operating profit for the third quarter was preliminarily estimated at 7.2 billion KRW, a 77.1% increase compared to the same period last year. Sales reached 37.4 billion KRW, up 86% year-on-year. The company explained, "The expansion of the underwater power cable business and the efficiency in asset management such as vessels significantly contributed to the growth in performance."

Recently, LS Marine Solution incorporated LS Buildwin, a specialized onshore cable construction company, as a subsidiary. This marks its advancement as an integrated cable construction company covering both underwater and onshore sectors. Once the paid-in capital increase is completed this month, LS Buildwin's fourth-quarter sales will be reflected. LS Marine Solution's annual sales are expected to reach approximately 130 billion KRW, about twice the previous year's 70.8 billion KRW. Total assets are also expected to increase from 194.5 billion KRW as of the end of June to about 270 billion KRW.

LS Marine Solution emphasized its construction experience necessary for large-scale projects such as participation in the construction of the West Coast underwater power highway and the expansion of offshore wind power projects. The company expects to continue growing sustainably by strengthening global order competitiveness in cooperation with LS Cable & System.

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