Taihan Cable third-quarter revenue jumps 37.6 percent on grid and subsea demand

Taihan Cable & Solution said Thursday its third-quarter revenue rose 37.6 percent from a year earlier to 1.18 trillion won ($880 million), as the spread of AI data centers and expanded power-grid investment drive growth in the ultra-high-voltage and submarine cable markets.

Operating profit for the three months ended September was 30.9 billion won ($23.1 million), up 4.5 percent from 29.5 billion won in the same quarter last year.

"Growth in the ultra-high-voltage and submarine cable markets is now taking hold in earnest, driven by the spread of AI data centers and the expansion of power-grid investment," a Taihan Cable official said. "Based on our enlarged order backlog, we will continue stable growth while further strengthening our position in the global market centered on high-value businesses such as HVDC and submarine cables."

Europe has been the sharpest source of new business this year. Taihan Cable has won more than 500 billion won ($374 million) in new orders in Europe alone, including a 115 billion won ($86.1 million) contract in October to supply its share of a 380-kilovolt ultra-high-voltage turnkey grid project in Germany.

Third-quarter revenue also extended a run of trillion-won quarters that began with 1.01 trillion won ($755 million) in the fourth quarter of 2025, the company said.

Order backlog stood at 4.06 trillion won ($3.04 billion) at the end of the second quarter, the first time it has topped 4 trillion won since the company's founding, with 727 billion won ($544 million) in new orders booked during that quarter.

The company, whose sole business division makes power cables including ultra-high-voltage lines, materials and communication cable and also carries out electrical, communications and fire-safety construction, said it plans to widen its business base in the United States and Europe and sharpen competitiveness in next-generation businesses such as HVDC and submarine cables.