Based on expanded global orders, Taihan Cable & Solution’s cumulative operating profit for the first three quarters of this year surpassed KRW 150 billion.
Taihan Cable & Solution announced that it recorded consolidated cumulative revenue of KRW 3.4584 trillion and an operating profit of KRW 152.1 billion for the first three quarters as of the 29th.
These figures represent year-on-year increases of 31.7% and 78.6%, respectively, compared to the same period last year, which saw revenue of KRW 2.6268 trillion and an operating profit of KRW 85.2 billion. In just three quarters, the company exceeded its full-year operating profit for last year of KRW 128.6 billion by approximately 18%. Revenue has also already surpassed 95% of last year’s annual revenue of KRW 3.636 trillion.
Revenue for the third quarter was KRW 1.1764 trillion, and operating profit was KRW 30.9 billion, up 37.6% and 4.5%, respectively, from the same period last year. This performance marks the highest quarterly result on record since 2010, when the company began aggregating consolidated quarterly results under the Korean International Financial Reporting Standards (K-IFRS).
The backlog of orders also set a new all-time high. New orders in the third quarter totaled KRW 809 billion, bringing the cumulative order backlog to KRW 4.3073 trillion. This represents an expansion of more than four times compared to the end of 2021, immediately after its inclusion in the Hoban Group.
Taihan Cable & Solution explained that achievements across its core businesses, including extra-high-voltage and submarine cables, industrial wires, and communication cables, drove the results.
In particular, as previously secured extra-high-voltage cable projects in key markets such as Europe, North America, and Asia were realized as revenue, they began to be fully reflected in the company’s performance.
A company official said, “Growth opportunities in the extra-high-voltage cable market are expanding due to increased investment in global power infrastructure.”
The official added, “Leveraging our accumulated technological expertise and project execution capabilities, we will strengthen our competitiveness and continue investing in and developing technologies for future growth businesses such as submarine cables and HVDC (high-voltage direct current transmission) to expand our position in the global market.”
in INDUSTRY
