PR
Taihan Reports Record-Breaking Financial Results for FY 2024
Taihan has disclosed its preliminary consolidated financial results for 2024, reporting KRW 3.282 trillion in revenue, KRW 114.6 billion in operating profit, and KRW 73.0 billion in net profit.
This represents a 15.4% increase in revenue from KRW 2.844 trillion in 2023, while operating profit surged by 43.6% from KRW 79.8 billion. Net profit saw a modest increase of 1.6% from KRW 71.9 billion in the previous year.
For the first time in 13 years, Taihan’s revenue surpassed KRW 3 trillion. Operating profit also exceeded KRW 110 billion for the first time since 2007.
Notably, this achievement is attributed solely to Taihan’s core Cable & Solution business, reinforcing its strategic focus. In the past, the company operated multiple non-core subsidiaries in construction and telecommunications, but it has since streamlined its portfolio to concentrate exclusively on cable-related businesses, driving sustained growth.
The company attributes its robust performance to an expanded global order intake and increased revenue across key markets, including the U.S., Europe, and Asia. In 2023 alone, Taihan secured approximately KRW 730 billion in new orders from the U.S. market. The company also achieved significant milestones in securing contracts for 500kV HVAC (High Voltage Alternating Current) cable systems, a technology designated as a national core technology, as well as HVDC (High Voltage Direct Current) cable systems, recognized as a next-generation power transmission solution.
Taihan further strengthened its position in Europe, securing major projects in high-tech markets such as the UK and Sweden. In Asia, the company capitalized on large-scale business opportunities in Singapore. In Q4 2023 alone, Taihan recorded KRW 1.7 trillion in new orders, reinforcing its strong momentum in the global market.
