Sanil Electric posts higher quarterly profit

Sanil Electric's second-quarter operating profit rose 34.3 percent to 62.2 billion won ($44 million) from 46.3 billion won ($32.7 million) a year earlier.

Revenue increased 28 percent to 164 billion won ($116 million) from 128 billion won ($90.6 million) a year earlier, while net income reached 54.3 billion won ($38.4 million), up 43.1 percent.

Profit from continuing operations before income-tax expense rose 45.9 percent to 70.4 billion won ($49.7 million) from 48.2 billion won ($34.1 million) a year earlier.

Revenue linked to renewable energy, data centers and energy storage systems totalled 132 billion won ($93.6 million) during the quarter, up 51.7 percent from a year earlier. Exports accounted for 96.7 percent of quarterly revenue, with the United States representing 86.6 percent and Europe 7.8 percent.

New orders reached a quarterly record of 244 billion won ($172 million), up 163.4 percent from a year earlier, while the order backlog stood at 557 billion won ($393 million) at the end of the second quarter, 32.7 percent higher than a year earlier.

Operating margin reached 37.9 percent and remained above 37 percent for a third consecutive quarter.