Doosan (000150) Q2 2026 earnings summary

Executive summary

• Sales, operating profit, and net income increased year-over-year and quarter-over-quarter, with consolidated H1 2026 revenue at KRW 10,617.5 billion, operating income at KRW 830.7 billion, and net income at KRW 637.1 billion.

• Major business segments include electronic materials, digital innovation, power plant EPC, compact construction equipment, fuel cells, and robotics.

• The group completed several M&A transactions, including the acquisition of Doosan Mottrol and a 70.61% stake in SK Siltron, and the sale of Doosan Logistics Solutions.

• The company announced a share buyback and cancellation plan, focusing on shareholder returns and quarterly dividends.

Financial highlights

• Consolidated sales reached KRW 10,617.5 billion in H1 2026, up from KRW 9,617.7 billion in H1 2025, with operating profit at KRW 830.7 billion and net income at KRW 637.1 billion.

• Net income attributable to owners of the parent was KRW 394.3 billion, up from KRW 75.8 billion YoY.

• Basic EPS for ordinary shares was KRW 22,064, compared to KRW 4,230 in the prior year.

• Total assets reached KRW 36,340.2 billion, with total equity of KRW 13,907.6 billion.

• Net debt increased to KRW 4,474bn from KRW 4,019bn in 1Q26.

Outlook and guidance

• Targeting approximately KRW 3.2tn in annual sales for in-house business by expanding high-margin Electro-Materials in 2H26.

• Electro-Materials segment expects KRW 1.5tn in 2H26 sales, driven by AI/semiconductor demand and new facility mass production.

• Management targets continued growth in high-end CCL, 5G, and AI-related materials, and further expansion in robotics and fuel cells.

• Doosan Enerbility aims for KRW 13.3tn in annual orders, leveraging core business and major projects in 2H26.

• Shareholder return policy includes quarterly dividends and a plan to cancel treasury shares, excluding those for employee compensation.