DOOSAN TESNA (131970) Q2 2025 earnings summary

Executive summary

• Specializes in semiconductor post-processing, focusing on wafer and package testing, and die preparation, with a diversified product portfolio including SoC, CIS, MCU, and Smartcard ICs.

• 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 engineering services.

Financial highlights

• Revenue for H1 2025 was KRW 135.2 billion, down sharply from KRW 373.1 billion in FY2024 and KRW 338.7 billion in FY2023.

• Operating loss of KRW 21.3 billion in H1 2025, compared to operating profit of KRW 37.9 billion in FY2024.

• Net loss of KRW 17.2 billion in H1 2025, versus net profit of KRW 36.8 billion in FY2024.

• Basic EPS for H1 2025 was -896 KRW, compared to 1,912 KRW in FY2024.

• Cash and cash equivalents at end of H1 2025 were KRW 64.7 billion.

Outlook and guidance

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

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