Doosan (A000150) Q2 2024 earnings summary

Executive summary

• Revenue for the first half of 2024 was ₩9,054.6 billion, with operating income of ₩684.6 billion and net income attributable to owners of the parent at ₩25.6 billion, marking a return to profitability from the prior year’s loss.

• The group’s business portfolio includes electronics materials, IT services, power equipment, compact construction machinery, fuel cells, and robotics, with a global presence and diversified revenue streams.

• Major subsidiaries include power equipment (Enerbility), compact equipment (Bobcat), fuel cells (Fuelcell), and semiconductor testing (Tesna), each contributing to consolidated results.

Financial highlights

• Consolidated revenue for H1 2024 was ₩9,054.6 billion, down from ₩19,130.1 billion for FY2023.

• Operating income for H1 2024 was ₩684.6 billion, compared to ₩1,436.3 billion for FY2023.

• Net income attributable to owners of the parent was ₩25.6 billion, a significant improvement from a net loss of ₩388.3 billion in FY2023.

• Total assets at June 30, 2024, were ₩29,939.1 billion, with total liabilities of ₩18,000.6 billion and equity of ₩11,938.5 billion.

• Debt ratio improved to 150.8% at H1 2024 from 152.4% at FY2023.

Outlook and guidance

• The group is focusing on high-value electronics materials, digital transformation, and expanding its presence in renewable energy, hydrogen, and robotics.

• Ongoing investments in R&D and capacity expansion are expected to support future growth, especially in 5G, electric vehicles, and hydrogen-related businesses.

• Management expects continued improvement in profitability and financial stability, supported by cost controls and portfolio optimization.