Gaon Cable said Monday that its preliminary consolidated results for the third quarter of this year showed revenue of 986.5 billion won and an operating profit of 52 billion won. Net income was also recorded at 30 billion won. Compared to the same period last year, revenue increased by 51.9%, while operating profit rose by 99.1%. Both revenue and operating profit marked all-time quarterly highs.
Cumulative revenue for the first three quarters reached 2.6194 trillion won, with an operating profit of 116 billion won, surpassing last year’s annual revenue of 2.5457 trillion won and operating profit of 72.9 billion won in just nine months. Notably, the growth rate in operating profit significantly exceeded that of revenue.
This strong performance was driven by increased demand for cables and bus ducts resulting from expanded investments in U.S. artificial intelligence (AI) data centers, renewable energy, and power grids. Gaon Cable’s distribution cable exports have also continued to grow steadily, fueled by supply shortages within the United States and broader power grid investment.
The growth of its U.S. production subsidiary, LUCUS, is also continuing. LSCUS has established itself as one of the world’s top five bus duct suppliers by providing bus ducts for AI data centers owned by major U.S. tech companies in partnership with LS Cable & System. With expanded cable supply for AI data centers and solar power plants, annual revenue this year is projected to double compared to last year.
A Gaon Cable official stated, “Structural growth in the U.S. power infrastructure market continues, centered on investments in AI data centers and power grids,” adding, “Based on expanded exports from our headquarters and the growth of LSCUS, we will maintain a trend of record-high performance and improved profitability.”
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