Iljin Electric (103590.KS) reported first-quarter revenue of 506.1 billion won and operating profit of 50.7 billion won, the company said in a regulatory filing Tuesday. Revenue and operating profit rose 11% and 49% from a year earlier, respectively, marking the highest first-quarter results on record.
Iljin Electric said demand for power equipment has grown alongside the global expansion of data center construction. Through global orders, the company's order backlog at the end of the first quarter rose to $1.761 billion (approximately 2.6 trillion won), with 70% coming from heavy electric machinery such as transformers and circuit breakers. Overseas markets, including North America, accounted for 74% of the backlog.
The company expects earnings growth to continue in the second quarter through further order expansion. Iljin Electric plans to focus on meeting rising demand for ultra-high-voltage transformers at home and abroad through its Hongseong transformer plant.
