LS Group companies report strong third-quarter growth driven by AI infrastructure

LS Group subsidiaries reported significant third-quarter performance driven by the global demand for AI data center power solutions and high-voltage transformers.

LS Electric achieved record quarterly results with revenue of 1.8778 trillion won and an operating profit of 233.5 billion won, marking a 131.7% increase in profit compared to the previous year. This achievement represents 100 consecutive quarters of operating profit, a rare milestone among South Korea's top 500 companies. Growth was fueled by high-value projects, including a 106% increase in ultra-high voltage transformer revenue and strong performance in the North American market.

LS Eco Energy also reported record quarterly revenue and operating profit, with third-quarter revenue reaching 351.5 billion won, a 51% increase year-on-year. While cumulative revenue for the first nine months of the year has already surpassed last year's total, the company saw a slight decline in operating profit margin compared to the previous quarter. The company is currently expanding its production capabilities in Vietnam, including new facilities for epoxy-insulated bus ducts for AI data centers and rare earth metal production.