Doosan's Q3 Operating Profit Nearly Doubles to KRW 459.4 Billion on AI Materials Growth (Comprehensive)

Electronics Business Group Posts Record Quarterly Revenue of 802 Billion Won
Net Income Falls 7.5% Year Over Year

Doosan's third-quarter operating profit nearly doubled year over year. Its electronics business, which makes materials for artificial intelligence (AI) semiconductors, led the growth.

Doosan announced on November 9 that it recorded consolidated revenue of KRW 5.4269 trillion and operating profit of KRW 459.4 billion in the third quarter. Revenue rose 22.2% and operating profit increased 98.4% from the same period a year earlier.

Doosan's own businesses posted revenue of KRW 892.2 billion and operating profit of KRW 237.9 billion, up 70.2% and 119.6%, respectively. Its Electronics Business Group (BG), which makes semiconductor substrate materials, posted record quarterly revenue of KRW 802 billion. Sales of products for AI accelerators, memory, and optical modules increased as global investment in AI infrastructure grew.

Results also improved at major affiliates. Doosan Enerbility announced on October 29 that it recorded third-quarter revenue of KRW 4.4494 trillion and operating profit of KRW 261.2 billion, up 14.7% and 90.6%, respectively, from a year earlier. Its cumulative orders through the third quarter totaled KRW 9.999 trillion.

Doosan Bobcat announced third-quarter revenue of KRW 2.4635 trillion and operating profit of KRW 167.4 billion on the same day. Sales rose across all regions, including North America and Asia, lifting revenue by 16.5% and operating profit by 25.3%.

Net income, however, declined. Third-quarter net income was KRW 103.1 billion, down 7.5% year over year. Net income attributable to owners of the parent company fell 35.3% to KRW 78.4 billion. Profit before income tax expense decreased 85.7% from the previous quarter to KRW 116 billion.

Doosan expects growth to continue in the fourth quarter, led by its Electronics BG, and forecasts that annual revenue from its own businesses will exceed KRW 3.2 trillion.

This content was produced with the assistance of AI translation services.