LSIS chalked up double-digit growth in sales in the first quarter of this year thanks to a charming business performance of its mainstay electricity business in Korea and abroad. The company is showing signs of a fast recovery from a setback it suffered last year.
An electronic filing issued by LSIS showed that the company posted 559.4 billion won in sales, 35.9 billion won in operating profit and 19.3 billion won in net profit in the first quarter of the year.
Despite the continuation of external uncertainties, including declining of investments caused by the underperforming global and national economies, LSIS’s mainstay power equipment business got a boost and the sagging power infrastructure business returned to normal.
Power and automation, two of LSIS’s mainstay businesses, maintained stable growth momentum thanks to an increase in the IT sector, including semiconductors. In particular, LSIS’s efforts to expand its customer base targeting large-sized companies in the instrument industry sector have begun to pay off in earnest.
LSIS succeeded in returning to profitability in the first quarter of the year by expanding winning orders from Korea Electric Power Corp. and other public entities and diversifying its overseas business focusing on Iraq, Vietnam, Myanmar and other Southeast Asian countries. The company is forecast to reap better than expected business performances this year.
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The new transformer, dubbed “Susol,” developed and released by LSIS (Photos: LSIS)
LSIS Releases Cast Resin Transformer Capable of Sustaining 8.0 Quake
A magnitude 8.0 earthquake struck Gyeongju last September, registering the strongest-ever quake since the nation began to measure them, attracting the public’s attention over the safety of electric equipment. LSIS has responded by releasing a cast resin transformer capable of sustaining the impact of a magnitude 8.0 quake.
The new transformer, dubbed “Susol,” has secured the quake-proof Zone 4 rating from the Uniform Building Code (UBC) by dramatically reinforcing internal stress of structure designed to fix cast resin transformer through design specializing in proof.
LSIS began to develop a new quake-proof transformer in March 2016 and obtained a certification from the Earthquake Anti-Disaster Research Center. The company succeeded in the commercialization of the new transformer in March one year after it launched the project.
LSIS Strives to Lead Global Microgrid Market
Independent microgrids are the best alternative to cope with the explosive growth of electricity demand, and LSIS is going to take the lead in the global market by developing business models tailored to meet regional needs, LSIS Chairman Koo Ja-kyun said. Chairman Koo made the remarks in a keynote presentation at the Asia Clean Energy forum (ACEF) held at the Asian Development Bank headquarters in Manila.
He stressed the continued expansion of microgrids as a future growth engine for the company. On top of its own proprietary technologies in the power and automation fields, LSIS is now concentrating its capabilities on strengthening its presence in the global microgrid market, which shows signs of explosive growth with the convergence of smart solutions combining ICT.
LSIS has secured a full lineup of smart energy solutions, ranging from energy production to storage and efficient use, which include energy storage systems (ESS), energy management system (ESM), and photovoltaic power and other eco-friendly energies. In a deal signed last November, LSIS was selected to build an energy-independent smart campus for Montgomery College in Maryland, Washington DC.
Last October, LSIS was selected to implement an independent microgrid project in Singapore, setting a platform to tap the Asian MG market. LSIS has joined such global companies as GE-Alstom and Schneider to participate in a renewable energy-powered island project on Singapore’s southern island of Semakau.
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