DOOSAN TESNA (131970) Q3 2025 earnings summary

Executive summary

• Sales and operating profit increased year-over-year but declined sequentially due to tariffs and external factors; net income rose year-over-year and debt ratios remained stable compared to the previous quarter.

Financial highlights

• 3Q25 consolidated sales: KRW 4,452bn (+14.8% YoY, -16.7% QoQ); operating profit: KRW 231bn (+109.9% YoY, -35.4% QoQ); net income: KRW 112bn (turnaround YoY, -52.2% QoQ).

• Parent sales: KRW 415bn (+60.2% YoY, -7.2% QoQ); operating profit: KRW 80bn (+303.6% YoY, -3.5% QoQ); net income: KRW 33bn (turnaround YoY).

Outlook and guidance

• Annual sales for in-house business expected to exceed KRW 2tn, driven by improved main business performance.

• Doosan Enerbility anticipates exceeding annual order targets (KRW 13–14tn) with potential upside from nuclear and gas turbine projects.

• Electro-Materials segment expects record high annual performance in 4Q25, led by high-end product demand.