Doosan Co., Ltd. Reports Q1 Operating Profit of 347.9 Billion KRW, Up 3% Year-on-Year
Impact of Stable Performance Maintained by Major Affiliates
Doosan Corporation announced on the 2nd that it recorded consolidated sales of KRW 4.4623 trillion and operating profit of KRW 347.9 billion in the first quarter of this year. Compared to the same period last year, sales increased by 2.6% and operating profit rose by 2.9%. Net profit also reached KRW 225.9 billion, marking a 96.9% increase compared to the same period last year.
Regarding the first quarter performance, Doosan explained that "the improvement in Doosan's own business performance, along with stable results from major affiliates such as Doosan Bobcat, were maintained."
Doosan's own business recorded sales of KRW 269.3 billion and operating profit of KRW 23.6 billion in the first quarter. Sales of next-generation products such as CCL for AI accelerators and improvements in the profit structure grew by 5.6% and 46.6%, respectively, compared to the same period last year. The second quarter is also expected to see increased performance compared to the previous year due to the recovery of the upstream industry and expansion of high value-added products.
Doosan Enerbility recorded consolidated sales of KRW 4.0979 trillion and operating profit of KRW 358.1 billion in the first quarter. Sales increased by 1.4% year-on-year, while operating profit decreased by 1.8%. For this year, annual orders are expected to reach approximately KRW 6.3 trillion through various orders including domestic combined power plant main equipment, domestic and overseas combined power plant EPC, and renewable energy projects.
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Doosan Bobcat previously announced on the 29th that it recorded first quarter sales of KRW 2.3946 trillion and operating profit of KRW 326 billion. Sales remained at a similar level to the same period last year, supported by strong sales of small equipment in the North American region, while operating profit decreased by about 12% due to increased promotion costs. On the other hand, net profit increased by 4.5% due to the impact of foreign currency valuation resulting from exchange rate fluctuations.
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