LS Eco Energy (229640.KS) said on the 20th that it posted consolidated third-quarter revenue of 351.5 billion won and operating profit of 22.2 billion won. Expanding power grid investment in Europe and North America, along with rising supply of power equipment for artificial intelligence data centers, lifted the company's nine-month results above its full-year figures for last year.
Third-quarter revenue rose 51% from a year earlier and operating profit gained 50%, according to the regulatory filing released the same day.
Revenue for the first three quarters totaled 987.3 billion won, with operating profit of 67.5 billion won. Both figures exceeded last year's annual revenue of 960.1 billion won and operating profit of 66.8 billion won in just nine months. Adding fourth-quarter results, the company is now well positioned to set an annual record for a third consecutive year.
The growth was driven by expanding power cable exports, centered on Europe and North America. Demand for power cables has climbed as countries continue to replace aging grids and build out renewable energy facilities.
Busducts have also emerged as a new growth engine. A busduct is a power distribution system that delivers large volumes of electricity reliably. As global big tech companies build more hyperscale data centers in Malaysia and Indonesia, busduct sales rose two to threefold from a year earlier.
To meet the growing demand, LS Eco Energy plans to install high-capacity busduct production facilities at its manufacturing subsidiary in Ho Chi Minh City, Vietnam (LSCV), with mass production slated to begin in the second half of next year. The company also plans to build a production facility for samarium metal, a rare earth element used in defense applications, and start mass production within this year.
"With the addition of AI data centers and our new rare earth business on top of expanding exports to Europe and North America, we expect growth in both revenue and operating profit to continue," said Lee Sang-ho, chief executive of LS Eco Energy.