LS Marine Solution (060370): Korean Industrials stock

What the company does

LS Marine Solution installs and maintains undersea power cables, the high-voltage lines laid on the ocean floor to carry electricity between islands, offshore platforms, and coastlines, as well as underground land cables.

It serves power utilities, grid operators, and infrastructure developers, operating across both domestic and international markets as a listed company on KOSDAQ, South Korea's tech and small-cap exchange. The business is divided into two segments: submarine cable installation and underground cable installation.

Summary is AI-generated and may contain errors · figures from DART filings

Financials

Source: DART · FY ending Dec · latest FY2025

Revenue · FY2025

US$177M

▲ +87.5% YoY

Operating profit · FY2025

US$5.1M

▼ −43.4% YoY

Net income · FY2025

US$6.1M

▼ −36.7% YoY

Revenue, operating profit and net income by fiscal year (USD; KRW in parentheses).
Metric	FY2023	FY2024	FY2025
Revenue	US$51.3M(₩70.8B)	US$94.4M(₩130.3B)	US$177M(₩244.2B)
Operating profit	US$9.5M(₩13.1B)	US$9M(₩12.4B)	US$5.1M(₩7B)
Net income	US$8.4M(₩11.6B)	US$9.6M(₩13.2B)	US$6.1M(₩8.4B)

Revenue

FY2023US$51.3M
FY2024US$94.4M
FY2025US$177M

Operating profit

FY2023US$9.5M
FY2024US$9M
FY2025US$5.1M

Net income

FY2023US$8.4M
FY2024US$9.6M
FY2025US$6.1M

Key ratios (FY2025)

ROE

1.3%

Debt/Eq

17.7%

Op. margin

2.9%

Net margin

3.4%

Rev. YoY

▲ +87.5%

Why it matters · Context, not a recommendation

The company integrated LS빌드윈, a specialist underground-installation firm, through vertical integration, enabling it to offer combined submarine-and-underground turnkey project delivery.

Filings

All disclosures · English when translated

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