Photograph 1) Panoramic view of LS Eco Energy’s production plant in Vietnam

Photograph 2) LS Eco Energy CI

 

■ Achieved record-high operating profit margin and net profit margin with performance led by exports to Europe and North America
■ Benefited from U.S. policy of eliminating Chinese products, accelerating entry into U.S. market by obtaining UL certification
■ Expecting record-high annual performance, promoting submarine cable and rare earth business with LS Cable & System 

LS Eco Energy (CEO: Lee Sang-ho) achieved a record-high performance in the first half of this year. 

The company announced on the 18th that it had recorded KRW 412.5 billion in sales, KRW 24.4 billion in operating profit and KRW 21 billion in net profit in the first half of this year. 

The company’s sales increased by 13% from KRW 363.7 billion in the previous year. As for operating profit and net profit, the figures increased by 118% and 1,627% year-on-year from KRW 11.2 billion and KRW 1.2 billion, respectively.

Notably, the operating profit is similar to the company’s annual performance in 2023, and marks the company’s largest quarterly and half-yearly performance. LS Eco Energy also achieved its highest operating profit margin and net profit margin at 5.9% and 5.1%, respectively. 

“The rapid growth in the export of extra high voltage and UTP cables, which are value-added products, to Europe and North America led this performance,” said a company official. “We are expecting a record-high annual performance as well.” 

In particular, for the LAN cable produced by LSCV, LS Eco Energy’s Vietnamese production corporation, exports to the U.S. have increased by more than 30% year-on-year as a result of the U.S. policy of eliminating Chinese products. 

Having recently obtained UL certification for its aluminum underground residential distribution (URD) cable, LS Eco Energy is accelerating its entry into the U.S. market. In the U.S., which is imposing large tariffs on Chinese aluminum, the sale of URD cables from countries other than China is increasing rapidly.

Through cooperation with LS Cable & System, LS Eco Energy is expanding its submarine cable business and establishing a rare earth value chain in Europe and Asia.