LS ELECTRIC recorded all-time highs in both revenue and operating profit, driven by a supercycle in the global power market.
LS ELECTRIC announced on July 23 that it posted 1.577 trillion won in revenue and 178.5 billion won in operating profit in the second quarter of 2026.
This represents a 32.2% and 64.4% increase, respectively, compared to the same period of last year, and a 14.6% and 41.0% increase compared to the previous quarter.
Both its revenue and operating profit surpassed the previous record set in the fourth quarter of last year, achieving the highest quarterly performance in history.
New orders in the second quarter added up to approximately 2.1 trillion won, and the current order backlog is maintaining a scale of 7 trillion won, an increase of about 1.4 trillion won compared to the previous quarter.
Amidst continued growth across all business sectors, the data center power distribution business and the ultra-high voltage transformer business played a key role in driving the growth.
While the expansion of global AI data centers and increased facility investment in advanced manufacturing sectors such as semiconductors drove performance in power distribution solutions, the ultra-high voltage transformer business also grew due to sustained global demand for aging power grids.
LS ELECTRIC is signing supply contracts with major global tech giants one after another, leveraging its unrivaled AI data center power solutions.
Based on its total power solution supply capabilities ranging from ultra-high voltage to low voltage, the company has solidified its position in the North American market by rapidly providing high-efficiency and high-performance power infrastructure.
LS ELECTRIC’s ultra-high voltage transformer sales grew by 91.2% year-on-year in the second quarter.
This result is attributed to continued demand driven by the modernization of aging power grids and a surge in power demand from data centers as well as the expansion of supply volume as the Busan Ultra-High Voltage Transformer Plant 2 completed last year, enters a production stabilization phase.
Recognized for its competitiveness in the global energy storage system (ESS) market which is drawing much attention due to the expansion of renewable energy, LS ELECTRIC secured business worth approximately 130 billion won in the second quarter alone.
Groundbreaking Ceremony for LS ELECTRIC Utah in Utah
LS ELECTRIC has commenced a large-scale expansion of its key local production base, LS ELECTRIC Utah Inc., to secure a leading position in the explosively growing U.S. power infrastructure market.
LS ELECTRIC announced that it held a groundbreaking ceremony on June 25 (local time) for the expansion of production facilities at LS ELECTRIC Utah located in Cedar City, Utah, investing a total of 250 billion won.
This expansion is a large-scale project aimed at starting operations in early 2027.
It involves adding 66,115 square meters to the existing 13,223 square meter production facility, expanding the production facilities’ total size to 79,338 square meters.
The core of this expansion project is the establishment of production facilities for high-end power solutions in the United States and the securing of overwhelming production capacities.
Once the new facilities are completed, the switchboard production capacities of LS ELECTRIC’s Utah plant will ascend to approximately 500 billion won per year, providing LS ELECTRIC with the manufacturing infrastructure to respond agilely to explosively growing demand for power equipment in North America.
Preempting Next-Generation Power Market with World’s First DC Factory
LS ELECTRIC will officially launch the world’s first 100% DC distribution plant, which is set to revolutionize a paradigm in the global power market.
The company’s strategy is to establish global standards for an upcoming DC ecosystem based on its overwhelming technological prowess and to become the undisputed No. 1 company in the next-generation power market.
LS ELECTRIC announced on June 2 that it held the LS ELECTRIC DC Factory Completion Ceremony attended by CEO Chae Dae-seok at its Cheonan plant in South Chungcheong Province.
The newly completed LS ELECTRIC DC Factory is the world’s first DC distribution manufacturing facility that extensively incorporates LS ELECTRIC’s core DC equipment such as solid-state transformers, solid-state circuit breakers and energy storage systems.
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