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[Alpha Biz=(Chicago) Reporter Kim Jisun] LS Electric posted an "earning surprise" of more than 1 trillion won in quarterly sales and 100 billion won in operating profit for the first time in the second quarter of this year due to the booming global power infrastructure business.
LS Electric announced on the 25th that its consolidated operating profit in the second quarter of this year was 149 billion won, up 74.6% from the same period last year.
The operating profit exceeded the market forecast of KRW 91.3 billion compiled by Yonhap Infomax by 14.9%.
Sales reached 1.218 trillion won, up 36.8% from the same period last year. Net profit rose 166.0% to 73 billion won.
Both sales and operating profit are record-high quarterly earnings.
This is attributed to the boom in the power infrastructure business due to increased infrastructure investment in batteries, semiconductors and electric vehicles in North America and other global markets.
LS Electric explained that sales and profits of its power equipment business increased due to increased sales of UL-certified power devices, increased supplies in Southeast Asia and the Middle East, and increased selling prices.
In the case of the automation business, there was an impact of the U.S.-China dispute, but it increased slightly compared to the previous year, focusing on automobile and semiconductor sales.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
