Daehan Cable Achieves Record Cumulative Sales in Q3... Order Backlog Surpasses 3.4 Trillion Won

Sales Reach 855 Billion Won, Operating Profit 29.5 Billion Won
Year-on-Year Growth Achieved
Over 900 Billion Won in New Orders in Q3
Strengthening HVDC Submarine Cable Capabilities
"West Coast Energy Expressway Preparations on Track"

Daehan Cable announced on the 30th that its consolidated sales for the third quarter of this year reached 855 billion won, with an operating profit of 29.5 billion won.

Exterior view of the Daehan Electric Wire Dangjin Cable Factory. Daehan Electric Wire

These figures represent increases of 6.3% and 8.5%, respectively, compared to the same period last year. Cumulative sales up to the third quarter reached 2.6268 trillion won, marking the highest performance in the company's history.

Daehan Cable attributed this performance to expanded sales in global markets such as the Americas and Europe, as well as the realization of submarine cable sales driven by the stable execution of the Yeonggwang-Nakwol offshore wind power project.

The company also saw a significant increase in its order backlog. New orders in the third quarter amounted to 913 billion won. As of the end of the third quarter, the order backlog reached a record high of 3.4175 trillion won.

This is more than three times the 1.0655 trillion won recorded at the end of 2021, when the company was acquired by Hoban Group. The growth is attributed to continued expansion in orders for major product lines such as domestic and overseas extra-high voltage power grid projects and submarine cables.

In fact, in the third quarter alone, Daehan Cable secured a series of large-scale domestic and international projects, including the Anma offshore wind power project (181.6 billion won), Singapore's 400-kilovolt (kV) extra-high voltage power grid project (109.8 billion won), and two extra-high voltage power grid projects in Qatar (a total of 220 billion won).

A Daehan Cable official stated, "Going forward, we will continue to play a key role in major domestic and international power infrastructure projects, including the 'West Coast Energy Expressway,' by advancing our business centered on high-voltage direct current (HVDC) and submarine cables."

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