LS ELECTRIC (010120) Q4 2024 earnings summary

Executive summary

• Achieved record quarterly and annual results, driven by strong growth in the Electric business and U.S. market expansion.

• Celebrated 50th anniversary with continued innovation and global leadership in power and automation.

Financial highlights

• FY2024 sales reached KRW 4,552 bn, up 7.6% year-over-year; operating profit rose 19.9% to KRW 390 bn.

• 4Q 2024 sales were KRW 1,360 bn, up 31.9% YoY and 33.1% QoQ; operating profit was KRW 120 bn, up 76.1% YoY and 80.4% QoQ.

• Net income for FY2024 was KRW 242 bn, up 16.6% YoY.

• EBITDA for FY2024 was KRW 429 bn, up 19.0% YoY.

Outlook and guidance

• Targeting further global expansion, especially in North America, with a 2030 vision of KRW 8.3 tn in sales.

• Plans for large-scale HVTR capacity expansion and direct-entry strategies in the U.S. market.

• Focused on leveraging AI and data center market growth for new business opportunities.