대한전선

Consolidated Financial Performance and Order Backlog (Last 5 Years) 

Taihan Reports Record Cumulative Revenue for Q3 — Order Backlog Surpasses KRW 3.4 Trillion, Setting a New All-Time High

– Revenue of KRW 855 billion and operating profit of KRW 29.5 billion, both up year-on-year

– Secured KRW 900 billion in new orders in Q3 alone, sustaining robust growth momentum

– Strengthened HVDC submarine cable capabilities, “Steady Progress Toward the West Coast Energy Expressway”

– Continuous and stable growth built on a solid financial foundation following Hoban Group acquisition

Taihan has reported the highest cumulative revenue in its history for the third quarter, underscoring its consistent and sustainable growth trajectory.

On October 30, Taihan announced its provisional consolidated results for Q3, recording revenue of KRW 855 billion and operating profit of KRW 29.5 billion, representing increases of 6.3% and 8.5%, respectively, compared to the same period last year (KRW 804.4 billion in revenue and KRW 27.2 billion in operating profit).

Cumulative revenue for the first three quarters reached KRW 2.6268 trillion, the highest in the company’s history. This performance was primarily attributable to robust sales growth in global markets such as the Americas and Europe, as well as stable revenue recognition from submarine cable projects, including the Yeonggwang–Nakwol Offshore Wind Project.

The company’s order backlog also hit an all-time high. Taihan secured new orders worth KRW 913 billion during the third quarter, bringing the total backlog to KRW 3.4175 trillion at the end of September—more than triple the figure recorded at the end of 2021 (KRW 1.065 trillion), when the company was acquired by Hoban Group. This surge reflects continued expansion in key business segments such as Extra-high-voltage (EHV) power transmission networks and submarine cables across both domestic and overseas markets.

In the third quarter alone, Taihan won several large-scale projects, including the Anma Offshore Wind Power Project (KRW 181.6 billion), the Singapore 400kV EHV power grid project (KRW 109.8 billion), and two EHV power transmission projects in Qatar (totaling KRW 220 billion), demonstrating the company’s technological excellence and global competitiveness.

On the same day, Taihan held an Investor Relations (IR) session for institutional investors and analysts, where it presented its quarterly results, major achievements, and investment activities. The company highlighted its expanding investments in the submarine cable business, emphasizing that preparations for participation in the “West Coast Energy Expressway” are progressing smoothly.

In July, Taihan acquired a specialized submarine cable installation company to reinforce its turnkey project execution capabilities. In September, the company broke ground on its second submarine cable plant, which will produce 640kV HVDC and 400kV HVAC submarine cables. Located on a 215,000㎡ site, the new plant will feature cutting-edge equipment, including a 187-meter VCV tower—the tallest in Korea—and will provide more than five times the production capacity of the first submarine plant upon completion.

Taihan also reported a strengthened financial structure since its acquisition by Hoban Group in 2021. The company’s debt ratio has improved from 266% to the 90% range, while maintaining a current ratio of 182.3% and a borrowing dependency of 27.8%, reflecting strong and stable financial soundness.

A Taihan spokesperson stated, “We achieved a record-high order backlog by earning recognition for our technological excellence and execution capabilities in the global EHV and submarine cable sectors,” and added, “We will continue to enhance our business centered on HVDC and submarine cable solutions, taking a leading role in major power infrastructure projects such as Korea’s ‘West Coast Energy Expressway’ and other key global initiatives.”