Lotte Innovate Posts Q3 Revenue of 284 Billion Won, Profit of 12.4 Billion Won

Lotte Innovate reported third-quarter consolidated revenue of 284 billion won and operating profit of 12.4 billion won, according to datanet.co.kr.

The IT services company is rebalancing its portfolio toward high-growth areas such as data centers, AI and mobility while retaining its IT services base.

Lotte Innovate has expanded external data center contracts, including operation of the KAM Square data center, IGIS Asset Management's edge data center DBO and a large data center operation project in Ansan.

The company plans to expand its AX business and physical AI technology, with the aim of moving into a Robot-as-a-Service (RaaS) business. At the recent Gangneung ITS World Congress it set out commercialization strategies for AI-based smart tolling and autonomous driving.

Lotte Innovate has named 2027 as the year to combine profitability improvements in its existing businesses with expansion of new growth businesses.

Analyst outlook

In an October report, Kyobo Securities analyst Kim Dong-woo projected that Lotte Innovate's data center-driven revenue growth would expand from 2027, estimating the data center share of consolidated revenue would rise from 18.4% in 2026 to 20.9% in 2027 and 25.3% in 2028. The company's data center contracts began with entrusted operation of the KAM Square data center, followed by the IGIS Asset Management edge data center DBO and the Ansan project.