Doosan Corporation FY 2025 Annual Report
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Filed: March 23, 2026· period ending December 31, 2025DART

Doosan Corporation annual report for FY 2025, filed with DART (Korea Financial Supervisory Service) on March 23, 2026. This page provides AI-powered English analysis including business overview, management discussion & analysis (MD&A), risk factors, and KIFRS consolidated financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE).

Doosan Corporation FY 2025 Annual Report Analysis

Business Overview

  • Doosan (주두산) consolidated revenue KRW 19.78T in FY2025, up 9.1% YoY; Doosan Bobcat (44.4%) and Doosan Enerbility (39.4%) remain largest segments
  • Electronic BG (CCL) revenue surged to KRW 1.88T in FY2025 vs KRW 1.01T prior year, with operating profit KRW 485.0B vs KRW 122.6B — driven by AI accelerator and PKG CCL demand

Management Discussion & Analysis

  • Doosan (consolidated) FY2025 revenue KRW 19.78T (+9.11% YoY); OP KRW 1.06T (+5.87%); net income KRW 249.5B (-17.44%)
  • Electronics BG (CCL/AI semiconductor substrate) drove largest OP swing: segment OP KRW 485.0B vs KRW 122.6B prior year (+KRW 362.4B), citing AI semiconductor export demand surge; segment revenue KRW 1.88T (+86% YoY)

Risk Factors

  • FX sensitivity: 10% FX move → ±KRW 6.4B pre-tax impact (current year), sharply down from ±KRW 46.4B prior year, due to near-neutral net FX position of -KRW 64.1B
  • Liquidity wall: non-derivative financial liabilities due within 1 year KRW 10.86T, up from KRW 7.88T prior year — 38% YoY increase

Doosan Corporation FY 2025 Key Financial Metrics
DART

Revenue

KRW 19.78T

+9.1% YoY

Net Income

KRW 249.5B

-17.4% YoY

Gross Margin

17.3%

+92bp YoY

Operating Margin

5.4%

-16bp YoY

Net Margin

1.3%

-41bp YoY

ROE

16.0%

-442bp YoY

Total Assets

KRW 32.93T

+9.2% YoY

EPS (Diluted)

KRW 4,194

+133.6% YoY

Operating Cash Flow

KRW 981.9B

+219.0% YoY

CapEx

KRW 570.1B

-19.7% YoY

Source: KIFRS consolidated financial data from Doosan Corporation annual report on DART. All figures in KRW.

Source: DART (Korea Financial Supervisory Service) · AI summaries generated from the original Korean filing (English output) · Beta: coverage is expanding