DOOSAN TESNA (131970) Q1 2026 earnings summary

Executive summary

• Sales and operating profit for 1Q26 increased year-over-year, driven by improved performance across core businesses and major affiliates.

• Net income rose significantly year-over-year, supported by higher operating profit and reduced net debt.

Financial highlights

• Consolidated sales reached KRW 5,060 billion, up 17.7% year-over-year but down 11.0% sequentially from 4Q25.

• Operating profit was KRW 341 billion, a 71.7% increase year-over-year and 23.8% higher sequentially.

• Net income turned positive to KRW 102 billion, a KRW 91 billion improvement year-over-year.

• Debt-to-equity ratio improved to 161.1% from 169.1% in the previous quarter.

• Net debt decreased to KRW 3,209 billion from KRW 4,010 billion at the end of 2025.

Outlook and guidance

• Plans to continue improving product mix in Electro-Materials, focusing on high-margin products to achieve record sales in 1H26.

• Ongoing expansion in high-end CCL and semiconductor markets, with new product launches expected in 2Q26.