Doosan Heavy Industries & Construction Reports 56.5 Billion KRW Operating Profit in Q1, Down 82% YoY

Doosan Heavy Industries' Separate Operating Loss of 59.2 Billion KRW Excluding Affiliates... Net Loss of 301.2 Billion KRW

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[Asia Economy Reporter Ki-min Lee] Doosan Heavy Industries & Construction announced on the 15th that its consolidated operating profit for the first quarter of this year was 56.5 billion KRW, an 82% decrease compared to the same period last year (322.3 billion KRW).

Sales for the first quarter of this year were similar to last year at 3.837 trillion KRW. The net loss turned to 371.4 billion KRW.

On a separate basis excluding affiliates such as Doosan Infracore and Doosan Bobcat, Doosan Heavy Industries & Construction recorded an operating loss of 59.2 billion KRW, turning to a loss compared to the first quarter of last year (47.3 billion KRW). Sales increased by 6.23% to 924.8 billion KRW, but the net loss widened to 301.2 billion KRW.

Doosan Heavy Industries & Construction stated, "An operating loss was recorded due to 140 billion KRW in costs from voluntary retirement," and added, "The net loss was impacted by derivative evaluation losses such as Bobcat PRS, but recovery is expected in the second quarter."

However, orders received (management basis) in the first quarter of this year increased by 77.4% compared to the same period last year (314.6 billion KRW), reaching 721 billion KRW. Major orders for Doosan Heavy Industries & Construction in the first quarter include Yeosu Ungcheon Combined Facility at 98.2 billion KRW, Doosan Mecatec at 71.4 billion KRW, and Hanul Nuclear Power Plant Units 3 and 4 rewinding at 41.2 billion KRW. Rewinding refers to insulated wire wound around electrical equipment such as generators and transformers.

This content was produced with the assistance of AI translation services.