Title | LS Eco Energy achieves record-high Q1 performance |
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Date | 2025-05-07 |
Photograph) LS Eco Energy's Vietnamese production corporation
■ Best-ever Q1 sales, operating profit and net income
■ Continued recovery of domestic demand in Vietnam, exports of ultra-high voltage cables to Europe
■ LS Eco Energy responding to rapidly growing demand for AI data centers and renewable energy
LS Eco Energy (CEO Lee Sang-ho) announced on the 7th that it had recorded tentative sales of KRW 228.3 billion, operating profit of KRW 15.3 billion, and net profit of KRW 12.7 billion in the first quarter of 2025.
These figures represent increases of approximately 27.0%, 58.1%, and 59.9%, respectively, compared to the same period last year, and the company’s highest Q1 sales, operating profit, and net profit since its establishment in 1996. Most notably, the company achieved its highest-ever quarterly operating profit.
These achievements are thought to be due to the company's rapid response to market changes such as the increased demand for AI data centers and renewable energy, as well as the expansion of the global power grid.
LS Eco Energy is expanding its achievements in renewable power grid projects in Southeast Asia. LS-VINA, the Vietnamese production subsidiary of LS Eco Energy, is positioning itself as a key supply partner that is supporting the Philippine government’s energy transition policy by supplying cables to both wind and solar power plants in the Philippines.
The company's improved performance was also supported by increased sales of distribution cables as the Vietnamese domestic economy recovered and exports of ultra-high voltage cables to Europe increased.
“The expansion of ultra-high voltage cable exports to Europe and the company's participation in Southeast Asian power infrastructure projects have formed the two pillars of performance growth,” said Lee Sang-ho, CEO of LS Eco Energy. “We will expand our presence in overseas markets based on a cross-selling strategy with our parent company, LS Cable & System.”
LS Eco Energy has recently been strengthening cooperation with the Vietnamese government to respond to global supply chain risks, including China's rare earth export controls, and is also speeding up the global expansion of its eco-friendly portfolio, including submarine cables and renewable power grid solutions.