LS Ecoenergy third-quarter operating profit rises 50.2% to 22.2 billion won
In short
LS Ecoenergy (LS에코에너지) reported provisional third-quarter revenue of 351.5 billion won and operating profit of 22.2 billion won, up 51.0% and 50.2% from a year earlier. Nine-month revenue and operating profit already exceed the company's full-year figures for last year. The company attributed the growth to power cable and busduct exports to Europe and North America and to data center demand.
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LS Ecoenergy (LS에코에너지) reported provisional consolidated third-quarter results of 351.5 billion won in revenue, 22.2 billion won in operating profit and 14.0 billion won in net profit. The company announced them on 20 October. Revenue rose 51.0% and operating profit 50.2% from the same period a year earlier, and both are the highest for any third quarter. [ 1 , 2 , 4 , 5 ]
For the first nine months, cumulative revenue was 987.3 billion won and operating profit 67.5 billion won. Both are above last year's full-year revenue of 960.1 billion won and operating profit of 66.8 billion won. Outlets said this makes a third consecutive annual record more likely. Bloter put the margin at 27.2 billion won for revenue and 0.7 billion won for operating profit. [ 1 , 3 , 5 ]
The company and outlets attributed the growth to exports of power cables and busducts to Europe and North America. Asia Economy and Chosun Ilbo also cited grid investment, AI data center growth and renewable-energy demand. Busduct revenue rose two to three times from a year earlier as big tech companies expanded hyperscale data center investment and skyscraper construction grew in Malaysia and Indonesia, according to Yonhap, Chosun Ilbo and Bloter. [ 1 , 2 , 4 , 5 ]
To expand, the company is building large-capacity busduct production facilities at its Vietnam subsidiary LSCV in Ho Chi Minh City. Yonhap, Chosun Ilbo and Bloter say mass production will begin in the second half of 2027. The company aims to win more big tech orders and raise profitability. [ 2 , 4 , 5 ]
It is also developing rare-earth metals. Last month it began building a defense-use samarium metal production facility at LSCV, and it plans to start mass production within the year. Asia Economy describes samarium as a rare-earth element that keeps its magnetism at high temperatures and is used in permanent magnets for guided weapons, radar and aerospace motor parts. [ 1 , 2 , 4 ]
Asia Economy describes a busduct as a high-capacity power distribution system in which copper or aluminium conductors are wrapped in insulation and housed in a metal enclosure. Seoul Economic Daily and Bloter describe it as equipment for distributing large amounts of power. [ 1 , 3 , 5 ]
CEO Lee Sang-ho (이상호) said: "With the expansion of exports to Europe and North America, plus the new AI data center and rare-earth businesses, we expect the growth in revenue and operating profit to continue." [ 3 , 4 , 5 ]
Why it matters
The outlets report that the company has passed last year's full-year revenue and operating profit in nine months, which makes a third straight annual record more likely. The company is expanding busduct capacity in Vietnam and starting rare-earth metal production, and its CEO said he expects growth to continue.
Key facts
- LS Ecoenergy reported provisional consolidated third-quarter revenue of 351.5 billion won, operating profit of 22.2 billion won and net profit of 14.0 billion won. [ 1 , 2 , 4 , 5 ]
- Revenue rose 51.0% and operating profit 50.2% from a year earlier, both the highest for any third quarter. [ 1 , 2 , 4 , 5 ]
- Revenue for the first nine months was 987.3 billion won and operating profit 67.5 billion won, above last year's full-year 960.1 billion won and 66.8 billion won. [ 1 , 2 , 3 , 4 , 5 ]
- Busduct revenue rose two to three times from a year earlier, driven by big tech data center investment in Malaysia and Indonesia. [ 1 , 2 , 3 , 4 , 5 ]
- The company is building large-capacity busduct production facilities at its Vietnam subsidiary LSCV in Ho Chi Minh City, with mass production planned from the second half of 2027. [ 2 , 4 , 5 ]
- It began building a defense-use samarium metal production facility at LSCV last month and plans to start mass production within the year. [ 1 , 2 , 4 , 5 ]
Confirmed by several sources
- Third-quarter consolidated revenue was 351.5 billion won and operating profit 22.2 billion won, up 51.0% and 50.2% year on year. [ 1 , 2 , 3 , 4 , 5 ]
- Cumulative revenue and operating profit for the first three quarters exceeded the full-year figures for last year. [ 1 , 2 , 3 , 4 , 5 ]
- Busduct revenue rose two to three times year on year. [ 1 , 2 , 3 , 4 , 5 ]
- Mass production of samarium metal is planned within the year. [ 1 , 2 , 3 , 4 , 5 ]
Still unclear
- Whether the company will set a third consecutive annual earnings record. Asia Economy, Seoul Economic Daily and Bloter describe it as likely or more probable; it depends on fourth-quarter results, which are not yet reported.
- Start date of mass production at the new busduct facilities. Yonhap, Chosun Ilbo and Bloter say the second half of 2027; Asia Economy and Seoul Economic Daily say the second half of next year.