Doosan Enerbility Reports Q1 Operating Profit of 358.1 Billion KRW... Net Debt Reduced by 47%

Doosan Enerbility announced on the 2nd that it recorded consolidated sales of 4.0979 trillion KRW and an operating profit of 358.1 billion KRW in the first quarter of this year. Compared to the same period last year, sales increased by 1.4%, while operating profit decreased by 1.8%. Net profit for the period was 261.1 billion KRW, a 52.9% increase year-on-year.

Net debt stood at 1.8428 trillion KRW, down 47% from 3.4835 trillion KRW in the same period last year. Doosan Enerbility explained the reduction in net debt as due to "early collection and favorable business activities of Doosan Bobcat."

The Doosan Enerbility division (including overseas subsidiaries) achieved orders worth 633.6 billion KRW in the first quarter, including domestic and international equipment and services. The order backlog as of the end of the first quarter was 14.9839 trillion KRW.

A model of Doosan Enerbility's hydrogen turbine showcased at 'CES 2024' held in Las Vegas, USA, this January [Photo by Doosan Enerbility]

This year, orders are expected to maintain an annual outlook of 6.3 trillion KRW based on a diverse order pool including domestic combined power plant main equipment, domestic and international combined power plant EPC, and renewable energy projects.

Regarding the nuclear power business outlook this year, Team Korea, including Korea Hydro & Nuclear Power (KHNP), is pursuing orders in various countries such as the Czech Republic, where the preferred bidder announcement is scheduled for July, as well as Poland, the United Kingdom, the United Arab Emirates (UAE), T?rkiye, and Saudi Arabia.

Domestically, the 11th Basic Plan for Electricity Supply and Demand, which is expected to reflect new nuclear power plants, is anticipated to be announced within this year.

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