DOOSAN TESNA (131970) Q2 2025 earnings summary

Executive summary

• Consolidated sales and operating profit rose, driven by parent and major affiliates, with net income surging quarter-over-quarter due to both operating and non-operating gains.

• In-house business achieved record sales, led by high-end Electro-Materials, reaching 78% of 2024's annual sales target in the first half.

Financial highlights

• 2Q25 consolidated sales: KRW 5,346bn, up 16.4% year-over-year and 24.4% sequentially; operating profit: KRW 358bn, up 6.3% YoY and 80.3% QoQ.

• Net income for 2Q25: KRW 233bn, up 7.8% YoY and 1,963.7% QoQ.

• Parent company 1H25 sales: KRW 840bn, up 77.4% YoY; net income: KRW 187bn, up 2,644.1% YoY.

Outlook and guidance

• Doosan Enerbility expects to achieve its annual sales target with improved product mix in 2H25.

• High-end product sales in Electro-Materials projected to continue driving growth, with high-end share rising to 81% in 1H25.