LS Electric posts record Q1 earnings on data center boom

Apr 21, 2026, 12:24 pm

		0
A view of MCM Engineering II, a facility of LS Electric. / LS Electric

LS Electric reported record-breaking first-quarter results, driven by booming demand for power infrastructure in data centers, particularly in North America.

The company announced on April 21 that it posted consolidated revenue of 1.3766 trillion won and operating profit of 126.6 billion won for the first quarter, up 33% and 45% year-on-year, respectively—both marking all-time quarterly highs.

A key growth driver was North America, where sales surged about 80% year-on-year to reach 300 billion won, exceeding the 300 billion won mark for the first time. LS Electric secured orders for direct current (DC) products targeting data center microgrid customers, laying the groundwork for expansion into the DC solutions market.

The ultra-high-voltage transformer segment saw revenue jump 83%, supported by expanded production capacity at the company’s Busan facility, which tripled output capacity from 200 billion won to 600 billion won after the completion of a second production plant last year. Revenue from its subsidiary LS Power Solution, acquired in 2024, also rose 24%.

In ASEAN markets, strong growth was led by Vietnam—where LS Electric maintains a dominant position in the low-voltage equipment market—and Indonesia, where investment in power infrastructure is rapidly increasing. Sales at the Vietnam unit rose 45%, while Indonesia-based Symphos grew 75%.

Energy storage system (ESS) revenue tripled compared to a year earlier and increased 50% from the previous quarter, reflecting the company’s strategy to expand both equipment supply and system integration (SI).

As of the end of the first quarter, LS Electric’s order backlog reached 5.6 trillion won, up 600 billion won from the end of last year. Of this, ultra-high-voltage transformer orders accounted for 3.1 trillion won.

The company is accelerating efforts to strengthen its direct current (DC) power network capabilities amid the trend toward higher power consumption in data centers. Technologies such as high-voltage direct current (HVDC) transmission and low-voltage direct current (LVDC) distribution are gaining attention as efficient alternatives that minimize energy loss.

An LS Electric official said, “As global big tech companies increase investments in data centers and microgrids for independent power supply, demand across the entire power infrastructure sector is expanding. We will continue to grow orders and improve profitability by focusing on key future businesses such as data centers, DC solutions, and ESS.”

#LS Electric #earnings #data centers #North America #transformers