DOOSAN TESNA (131970) Q2 2024 earnings summary

Executive summary

• Doosan Tesna specializes in semiconductor testing, focusing on system semiconductors, with major operations in wafer and package testing. The company is part of the Doosan Group and underwent a significant ownership change in 2022, with Doosan Portfolio Holdings as the largest shareholder.

• In the first half of 2024, Doosan Tesna completed the acquisition of Engion, expanding its business scope and preparing consolidated financial statements for the first time.

Financial highlights

• 2024 H1 consolidated revenue was ₩191.6 billion, down from ₩338.7 billion in 2023 H1; operating profit was ₩28.0 billion, and net profit was ₩30.4 billion.

• Gross margin for H1 2024 was 39.2%, with an operating margin of 14.6% and net margin of 15.9%.

• Cash and cash equivalents at June 30, 2024, were ₩46.8 billion, down from ₩79.0 billion at the end of 2023.

• Total assets at June 30, 2024, were ₩844.4 billion, with total liabilities of ₩413.8 billion and equity of ₩430.6 billion.

• Basic EPS for H1 2024 was ₩1,581, up from ₩968 in H1 2023.

Outlook and guidance

• The company expects continued demand for system semiconductor testing, with a focus on expanding customer base and maintaining stable financial structure.

• No new business lines are planned; focus remains on core semiconductor testing services.