LS

■ 18% sales increase YoY,  44% operating profits increase YoY

■ Growth engine secured through investment in additional facilities

LS Cable & System Asia (CEO Kwon Young Il) has achieved its highest annual sales ever.

On January 17, LS C&S Asia announced that its estimated performance for 2019 was KRW 520.3 billion  in accumulated sales with KRW 26 billion in operating profits. This is the greatest performance so far, showing an increase of 18% and 44% respectively. 

4Q sales were KRW 125.8 billion, an 8% decrease from the previous quarter, reflecting seasonality where sales typically decline compared to 3Q. Meanwhile, high value-added projects were reflected as of 4Q resulting in improved profitability. Operating profits for 4Q were KRW 6.9 billion, breaking the record set in the previous quarter by 9%.

According to a company representative, Vietnam’s GDP increase of 7.02% in 2019 has led to power supply shortages that have only gotten worse and are forecast to become severe in 2020. In response, LS C&S Asia has been continuously investing in facilities to meet the increasing demand for power. Last year, investments made in MV (medium voltage) cables and architectural power products such as bus ducts, and additional investments in MV cables this year will act as further drivers for growth. 

LS C&S Asia is the holding company for two production subsidiaries in Vietnam (LS-VINA, LSCV) and one production subsidiary in Myanmar (LSGM). LS-VINA produces power cables such as HV (high voltage) and MV (medium voltage) cables as well as wire materials, while LSCV produces telecommunication cables such as UTP and optical cables as well as MV power cables. LSGM produces LV (low voltage) power cables and overhead line wires.