DOOSAN TESNA (131970) Q1 2025 earnings summary

Executive summary

• Specializes in semiconductor post-processing, focusing on wafer and package testing, with a strong presence in system semiconductors and die preparation services.

• Completed absorption-type merger with subsidiary EngiOn in February 2025 to enhance operational efficiency and synergy.

• No new business lines planned; continues to focus on core semiconductor testing and related services.

Financial highlights

• Q1 2025 revenue: KRW 59.3 billion, down sharply from KRW 373.1 billion in FY2024.

• Q1 2025 operating loss: KRW -19.1 billion, compared to operating profit of KRW 37.9 billion in FY2024.

• Q1 2025 net loss: KRW -16.4 billion, versus net profit of KRW 36.8 billion in FY2024.

• Cash and cash equivalents at Q1 2025: KRW 49.6 billion, down from KRW 65.0 billion at FY2024 year-end.

• Total assets at Q1 2025: KRW 727.4 billion; total equity: KRW 419.2 billion.

Outlook and guidance

• Ongoing investment in new plant facilities (KRW 220.6 billion planned through 2027) to support mid- to long-term growth.

• Dividend policy remains stable, with recent cash dividends of KRW 160 per share.