Taihan Cable Achieves Record First-Quarter Results on 'AI Boom'... Operating Profit Up 123%

Q1 Sales Reach 1.08 Trillion Won, Operating Profit Hits 60.4 Billion Won
Record-High Quarterly Sales and Operating Profit
Extra-High Voltage Project Revenue Drives Performance

Taihan Cable has recorded its highest-ever quarterly performance, driven by growing global demand for power grids due to the expansion of artificial intelligence (AI).

On April 29, Taihan Cable announced through a preliminary earnings disclosure that it achieved consolidated sales of 1.0834 trillion won and operating profit of 60.4 billion won. Compared to the same period last year, sales increased by 26.6% from 855.5 billion won, and operating profit surged by 122.9% from 27.1 billion won.

This performance marks the highest quarterly figures for both sales and operating profit since the adoption of Korean International Financial Reporting Standards (K-IFRS) and the start of consolidated quarterly reporting in 2010. Sales have exceeded 1 trillion won for two consecutive quarters, following the achievement of 1.009 trillion won in the fourth quarter of 2025.

Aerial view of Dangjin subsea cable plants 1 and 2. Taihan Cable.

Taihan Cable cited the expansion of overseas sales as the driving force behind this strong performance. In particular, revenue growth from extra-high voltage projects in countries such as the United States and Singapore—where demand for power infrastructure is rapidly increasing due to the rise of AI and data centers—significantly contributed to the improved results.

As a result, the operating margin for the first quarter reached 5.6%, marking a rise of 2.84 percentage points from the five-year average of 2.76%.

New orders also remained stable. Taihan Cable secured 734 billion won in new orders in the first quarter, and its order backlog stood at 3.8273 trillion won as of the end of the quarter. This is the largest order backlog in the company’s history, more than 3.5 times greater than at the end of 2021, immediately after joining Hoban Group.

On the same day, Taihan Cable held an investor relations (IR) session for institutional investors and analysts to share its first-quarter results, key achievements, and investment activities. The company specifically highlighted major achievements such as winning the contract for the Shinan Bigeumdo solar-powered extra-high voltage subsea cable project and emphasized its preparations and competitiveness for participation in the 'West Coast Energy Expressway.'

Taihan Cable also reported that it is maintaining strong financial health. Compared to 2021, the company’s debt ratio has improved significantly from 266% to 117.2%, while its current ratio stands at a robust 143.7%. Despite an increase in working capital due to sales growth, overall financial indicators remain stable.

A representative from Taihan Cable stated, "This record result demonstrates that our technology and quality have been recognized in the global market," adding, "We will continue to deliver results in the large-scale extra-high voltage power grid infrastructure market, where we have strong competitiveness, while further enhancing our capabilities in strategic product areas such as subsea cables and HVDC (high voltage direct current) cables."

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