Doosan is showing strength in early trading on the 2nd, buoyed by its first-quarter earnings announcement. Despite a somewhat disappointing performance in its consolidated results including subsidiaries, Doosan, the holding company of Doosan Group, achieved record-high results driven by its core electronic business group.
As of 9:25 a.m. on that day, Doosan was trading at 329,000 won, up 26,000 won (8.57%) from the previous trading day.
Doosan announced through its earnings disclosure on the 30th of last month that it recorded consolidated sales of 4.2987 trillion won and operating profit of 198.5 billion won. These figures represent declines of 3.7% and 43%, respectively, compared to the same period last year. Doosan noted that the poor performance of its subsidiaries, including Doosan Enerbility and Doosan Bobcat, had an impact. Both companies announced first-quarter results that fell significantly short of market expectations (consensus).
However, Doosan's standalone revenue showed strong results. Doosan reported sales of 392.7 billion won and operating profit of 94.5 billion won, representing increases of 75% and 260.7%, respectively, compared to the same period last year. Doosan stated, "The expansion of sales of high-margin products targeting artificial intelligence and the increase in the share of high-end products allowed us to achieve record highs in both revenue and profit in our core business."