LS Electric Posts Q3 Operating Profit of 100.8 Billion Won, Up 51.7% Year-on-Year

Reflecting Growth in North American Data Centers and Transformers

LS Electric has significantly increased its performance due to the expansion of global power demand, particularly in the United States. The growth of the North American data center and ultra-high voltage transformer markets is seen as the main driver.

LS Electric Cheongju Smart Factory exterior view. LS Electric

On October 22, LS Electric announced that its consolidated sales for the third quarter of this year were tentatively tallied at 1.2163 trillion won, marking a 19.1% increase compared to the same period last year. Operating profit reached 100.8 billion won, up 51.7% year-on-year, while net profit surged by 87.6% to 65.9 billion won.

An LS Electric representative stated, "Ongoing growth in North American data centers and ultra-high voltage transformers has driven our performance growth. Once the expansion of the second production building at the Busan plant, which manufactures ultra-high voltage transformers, is completed, we expect to see increased orders and sales from next year due to expanded production capacity."

As of the third quarter, the order backlog stood at approximately 4.1 trillion won, up 200 billion won from the previous quarter. In particular, ultra-high voltage transformers reached a record-high order backlog of 1.9 trillion won, driven by new orders and an expanded customer base in the United States.

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