Go content

About Us

Financial Statements

The 18th
select menu
LS Cable & System Ltd.

Separate Statements of Financial Position(As of December 31, 2025 and 2024)

*All won amouts are expressed in U.S.dollars at US$ 1: ₩1,434.9 the exchange rate in effect on December 31, 2025.
Financial statement
Korean won(In milions) Translation into U.S. dollars(In thousands)
2025 2024 2025 2024
Assets
Current assets
Cash and cash equivalents 308,274 221,201 214,840 154,158
Financial deposits 1,241 902 865 629
Trade receivables 829,180 843,394 577,866 587,772
Other receivables 90,416 74,744 63,012 52,090
Financial assets measured at amortized cost 4,000 - 2,788 -
Derivative financial assets 235,855 72,161 164,370 50,290
Firm commitment assets 936,133 517,083 652,403 360,362
Inventories 849,491 876,397 592,021 610,772
Other assets 136,056 166,681 94,819 116,162
Total current assets 3,390,646 2,772,563 2,362,984 1,932,235
Non-current assets held for sale - 9,573 - 6,672
Non-current assets
Property, plant and equipment, net 1,105,032 1,015,451 770,111 707,681
Intangible assets, net 65,829 56,294 45,877 39,232
Investment properties, net 35,537 34,973 24,766 24,373
Right-of-use assets, net 17,769 16,840 12,383 11,736
Financial deposits 18 18 13 13
Trade receivables 59,721 28,408 41,620 19,798
Other receivables 10,757 9,211 7,497 6,419
Financial assets at fair value through profit or loss 3,752 3,867 2,615 2,695
Financial assets at fair value through other comprehensive income 506 572 353 399
Derivative financial assets 78,214 3,914 54,508 2,728
Firm commitment assets 13,142 2,883 9,159 2,009
Investments in subsidiaries 1,819,951 1,142,031 1,268,347 795,896
Investments in associates joint ventures 67,162 62,851 46,806 43,802
Net defined benefit assets 17,564 11,318 12,241 7,888
Other assets 1,953 3,225 1,361 2,248
Total non-current assets 3,296,907 2,391,856 2,297,657 1,666,917
Total assets 6,687,553 5,173,992 4,660,641 3,605,822
Liabilities
current liabilities
Trade payables 492,962 635,866 343,551 443,143
Borrowings 1,088,114 957,999 758,320 667,642
Derivative financial liabilities 635,439 264,716 442,845 184,484
Firm commitment liabilities 304,765 88,462 212,395 61,650
Other payables 707,863 249,569 493,319 173,928
Current income tax liabilities - 13,897 - 9,685
Lease liabilities 8,519 6,272 5,937 4,371
Provisions 11,407 7,117 7,950 4,960
Other liabilities 948,208 563,902 660,818 392,990
Total current liabilities 4,197,277 2,787,800 2,925,135 1,942,853
Non-current liabilities
Borrowings 560,805 743,629 390,832 518,244
Derivative financial liabilities 32,029 120,194 22,321 83,765
Firm commitment liabilities 61,777 3,914 43,053 2,728
Deferred income tax liabilities 34,354 9,675 23,942 6,743
Lease liabilities 10,013 11,279 6,978 7,860
Provisions 8,255 7,071 5,753 4,928
Total non-current liabilities 707,233 895,762 492,879 624,268
Total liabilities 4,904,510 3,683,562 3,418,014 2,567,121
Equity attributable to owners of the parent company
Share capital 120,381 111,618 83,895 77,788
Shae premium 890,816 744,620 620,821 518,935
Accumulated other comprehenive income 130,331 142,787 90,829 99,510
Other components of equity -40,517 -43,048 -28,237 -30,001
Retained earnings 682,032 534,453 475,317 372,467
Total equity 1,783,043 1,490,430 1,242,625 1,038,699
Total liabilities and equity 6,687,553 5,173,992 4,660,640 3,605,821

LS Cable & System Ltd.

Separate Statements of Comprehensive Income(Years Ended December 31, 2025 and 2024)

*All won amouts are expressed in U.S.dollars at US$ 1: ₩1,434.9 the exchange rate in effect on December 31, 2025.
Financial statement
Korean won
(In milions, except per share amounts)		 Translation into U.S. dollars
(In thousands, except per share amounts)
2025 2024 2025 2024
Continuing operations
Revenue 4,180,095 3,711,654 2,913,161 2,586,699
Cost of sales 3,726,775 3,286,637 2,597,237 2,290,499
Gross profit 453,320 425,017 315,924 296,200
Selling and distribution expenses 304,172 266,750 211,981 185,901
Bad debt expense (reversal) -4,278 3,692 -2,981 2,573
Operating profit 153,426 154,575 106,924 107,726
Other income 1,442,891 765,571 1,005,569 533,536
Other expenses 1,484,332 800,825 1,034,450 558,105
Finance income 17,560 10,294 12,238 7,174
Finance costs 73,728 83,826 51,382 58,419
Share of profit of equity method investments, net 28,395 20,460 19,789 14,259
Other non-operating income 91,530 55,310 63,788 38,546
Profit before tax from continuing operations 175,742 121,559 122,476 84,717
Income tax expenses from continuing operations 26,108 25,286 18,195 17,622
Profit for the year from continuing operations 149,634 96,273 104,281 67,095
Discontinued operations -2,021 -4,991 -1,408 -3,478
Profit for the year 147,613 91,282 102,873 63,617
Other comprehensive income
Other comprehensive income that may be reclassified to profit or loss in subsequent periods (net of tax):
Remeasurement of net defined benefit liabilities -4,877 -8,199 -3,399 -5,714
Remeasurement of net defined benefit liabilities of subsidiaries and others 30,819 -788 21,478 -549
loss on valuation of financial assets at fair value through other comprehensive income, net -51 -67 -36 -47
Revaluation surplus -1,119 - -780 -
Net other comprehensive income that may be reclassified to profit or loss in subsequent periods
Other comprehensive income that will not be reclassified to profit or loss in subsequent periods (net of tax):
Gain(loss) on valuation of derivatives for cash flow hedges -1,603 775 -1,117 540
Changes in equity under equity method -9,683 45,338 -6,748 31,597
Other comprehensive income for the year, net of tax 13,486 37,059 9,398 25,827
Total comprehensive income for the year, net of tax 161,099 128,341 112,271 89,444
Earnings(losses) per share for continuing operations
Basic, earnings per share from continuing operations 6,893 4,448 4.80 3.10
Basic losses per share from discontinued operations -93 -231 -0.07 -0.16
Basic earnings per share 6,800 4,217 4.73 2.94

Opinion : The Separate financial statements present fairly, in all material respects, the financial position of LS Cable & System Ltd. as of December 31, 2025 and 2024, and its financial performance and cash flows for the years then ended in accordance with the Korean IFRS.

LS Cable & System Ltd.

Consolidated Statements of Financial Position(As of December 31, 2025 and 2024)

*All won amouts are expressed in U.S.dollars at US$ 1: ₩1,434.9 the exchange rate in effect on December 31, 2025.
Financial statement
Korean won(In milions) Translation into U.S. dollars(In thousands)
2025 2024 2025 2024
Assets
Current assets
Cash and cash equivalents 880,169 632,947 613,401 441,109
Financial deposits 396,319 89,367 276,200 62,281
Trade receivables 1,476,976 1,585,242 1,029,323 1,104,775
Other receivables 93,535 79,639 65,186 55,501
Financial assets at amortized cost 5,000 - 3,485 -
Derivative financial assets 358,827 84,166 250,071 58,656
Firm commitment assets 942,971 519,469 657,168 362,025
Inventories 1,456,629 1,413,735 1,015,143 985,250
Other assets 257,641 336,643 179,553 234,611
Total current assets 5,868,067 4,741,208 4,089,530 3,304,208
Non-current assets held for sale - 2,021 - 1,408
Non-current assets
Property, plant and equipment, net 2,343,247 2,021,824 1,633,039 1,409,035
Intangible assets, net 265,619 271,792 185,113 189,415
Investment properties, net 1,346 821 938 572
Right-of-use assets, net 43,371 45,773 30,226 31,900
Financial deposits 114,423 296 79,743 206
Trade receivables 61,722 30,358 43,015 21,157
Other receivables 21,783 23,975 15,181 16,708
Investments in associates and joint ventures 123,254 118,943 85,897 82,893
Financial assets at fair value through profit or loss 5,830 4,918 4,063 3,427
Financial assets at fair value through other comprehensive income 4,688 3,135 3,267 2,185
Derivative financial assests 98,145 3,914 68,398 2,728
Firm commitnent assets 13,142 2,883 9,159 2,009
Deferred tax assets 6,291 2,884 4,384 2,010
Net defined benefit assets 26,422 17,572 18,414 12,246
Other assets 5,993 6,760 4,177 4,711
Total non-current assets 3,135,276 2,555,848 2,185,014 1,781,202
Total assets 9,003,343 7,299,077 6,274,544 5,086,818
Liabilities
current liabilities
Trade payables 718,386 907,843 500,652 632,687
Borrowings 2,131,990 1,961,733 1,485,811 1,367,157
Derivative financial liabilities 725,614 279,046 505,690 194,471
Firm commitment liabilities 321,090 89,326 223,772 62,252
Other payables 793,907 364,729 553,284 254,184
Current income tax liabilities 14,011 34,399 9,764 23,973
Provisions 20,126 14,368 14,026 10,013
Lease liabilities 17,035 14,068 11,872 9,804
Other liabilities 1,039,977 743,015 724,773 517,817
Total currrent liabilities 5,782,136 4,408,527 4,029,644 3,072,358
Non-current liabilities
Borrowings 803,083 798,862 559,679 556,737
Derivative financial liabilities 34,300 120,261 23,904 83,811
Firm commitment liabilities 70,518 3,914 49,145 2,728
Other payables 263 159 183 111
Net defined benefit liabilities 2,213 3,192 1,542 2,225
Deferred income tax liabilities 106,039 74,215 73,900 51,721
Provisions 33,562 31,694 23,390 22,088
Lease liabilities 14,539 19,346 10,132 13,482
Total non-current liabilities 1,064,517 1,051,643 741,875 732,903
Total liabilities 6,846,653 5,460,170 4,771,519 3,805,261
Equity attributable to owners of the Parent Company
Share capital 120,381 111,618 83,895 77,788
Share premium 890,816 744,620 620,821 518,935
Accumulated other comprehensive income 107,158 92,808 74,680 64,679
Other components of equity 311,485 253,196 217,078 176,456
Retained Earnings 204,477 171,880 142,503 119,785
Non-controlling interests 522,373 464,785 364,048 323,915
Total equity 2,156,690 1,838,907 1,503,025 1,281,558
Total liabilities and equity 9,003,343 7,299,077 6,274,544 5,086,819

LS Cable & System Ltd. and Subsidiaries

Consolidated Statements of Comprehensive Income(For the Years Ended December 31, 2025 and 2024)

*All won amouts are expressed in U.S.dollars at US$ 1: ₩1,434.9 the exchange rate in effect on December 31, 2025.
Financial statement
Korean won
(In milions, except per share amounts)		 Translation into U.S. dollars
(In thousands, except per share amounts)
2025 2024 2025 2024
Continuing operations
Revenue 7,588,160 6,765,269 5,288,285 4,714,802
Cost of sales 6,753,502 5,992,164 4,706,601 4,176,015
Gross profit 834,658 773,105 581,684 538,787
Selling and administrative expenses 540,322 463,739 376,557 323,186
Bad debt expense 14,491 34,832 10,099 24,275
Operating profit 279,845 274,534 195,028 191,326
Other income 1,563,901 819,846 1,089,902 571,361
Other expenses 1,625,193 871,077 1,132,618 607,065
Finance income 24,078 22,668 16,780 15,798
Finance costs 124,626 140,063 86,853 97,612
Share of profit of an associate and a joint venture 3,970 292 2,767 203
Other non-operating income 11,673 3,204 8,135 2,233
Profit before tax from continuing operations 133,648 109,404 93,141 76,244
Income tax expenses from continuing operations 31,056 59,680 21,643 41,592
Profit for the year from continuing operations 102,592 49,724 71,498 34,652
Discontinued operations -2,021 -4,992 -1,408 -3,479
Profit for the year 100,571 44,732 70,090 31,173
Profit attributable to:
Owners of the Parent Company
Profit from continuing operations 75,501 23,460 52,618 16,350
Loss from discontinued operations -2,021 -4,992 -1,408 -3,479
Non-controlling interests
Profit from continuing operations 27,091 26,264 18,880 18,304
Other comprehensive income
Other comprehensive income that may be reclassified to profit or loss in subsequent periods (net of tax):
Remeasurement of net defined benefit liabilities -5,871 -9,927 -4,092 -6,918
Gain on valuation of financial assets at fair value through other comprehensive income, net 3,157 12 2,200 8
Revaluation surplus -1,119 56 -780 39
Net other comprehensive loss that will not be reclassified to profit or loss in subsequent periods -3,833 -9,859 -2,672 -6,871
Other comprehensive income that will not be reclassified to profit or loss in subsequent periods (net of tax):
Gain (loss) on valuation of derivatives for cash flow hedges 23,434 -4,809 16,331 -3.351
Share of profit of an associate and a joint venture 1,673 3,103 1,166 2,163
Exchange differences -4,277 16,846 -2,981 11,740
Net other comprehensive income that may be reclassified to profit or loss in subsequent periods 20,830 15,140 14,516 10,552
Other comprehensive income for the year, net of tax 16,997 5,281 11,844 3,681
Total comprehensive income for the year, net of tax 117,568 50,013 81,934 34,854
Total comprehensive income attributable to:
Owners of the Parent Company 82,216 21,040 57,297 14,663
Non-controlling interests 35,352 28,973 24,637 20,191
Earnings per share:
Basic earnings per share from continuing operations 3,478 1,084 2.42 0.76
Basic losses per share from discontinued operations -93 -231 -0.06 -0.16
Total 3,385 853 2.36 0.6

Opinion : The consolidated financial statements present fairly, in all material respects, the financial position of LS Cable & System Ltd. and its subsidiaries as of December 31, 2025 and 2024, and their financial performance and cash flows for the years then ended in accordance with the Korean IFRS.

TOP