Taihan Cable & Solution reports record Q3 cumulative operating profit

Taihan Cable & Solution has achieved its highest third-quarter performance since the adoption of K-IFRS in 2010. For the third quarter, the company reported revenue of 1.1764 trillion KRW and an operating profit of 30.9 billion KRW, representing increases of 37.6% and 4.5% year-on-year, respectively.

On a cumulative basis for the first three quarters, revenue reached 3.4584 trillion KRW and operating profit hit 152.1 billion KRW. This cumulative operating profit has already surpassed the total annual operating profit of the previous year (128.6 billion KRW) by approximately 18%. Cumulative revenue has also reached 95% of last year's total.

The growth is attributed to increased demand for extra-high voltage cables and the reflection of revenue from international projects in Europe, North America, and Asia. The company's order backlog has reached a record high of 4.3073 trillion KRW, a fourfold increase compared to late 2021 following its incorporation into the Hoban Group. Moving forward, the company plans to expand its presence in the global power infrastructure market by focusing on high-voltage direct current (HVDC) and submarine cable technologies.