Doosan Enerbility (034020) Q1 2026 earnings summary

Executive summary

• Orders rose 61.8% year-over-year, led by gas and steam turbine demand in domestic and North American data centers.

• Sales increased 20.3% year-over-year, driven by Czech nuclear equipment, DGTs, and MENA CCPP progress.

• EBIT improved to KRW 57bn from a loss last year, reflecting sales growth and profitability in core businesses.

• Net income remained negative but improved by KRW 40bn year-over-year.

Financial highlights

• Consolidated sales up 13.7% year-over-year to KRW 4,261bn; EBIT up 63.9% to KRW 234bn.

• EBITDA rose to KRW 358bn, up KRW 111bn year-over-year.

• Net income turned positive at KRW 60bn, up KRW 81bn year-over-year.

• Net debt increased sequentially to KRW 3,397bn.

• Liability/equity ratio rose to 130.6%.

Outlook and guidance

• Core growth businesses advancing, including Czech nuclear construction and SMR contracts.

• Large-scale nuclear and SMR projects targeted for domestic and export markets, with site selections and MOUs in progress.

• Gas turbine and steam turbine businesses expect continued order growth, with expansion in North America and MENA.