Doosan Fuel Cell FY 2025 Annual ReportBeta
Doosan Fuel Cell annual report for FY 2025, filed with DART (Korea Financial Supervisory Service) on March 18, 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 Fuel Cell FY 2025 Annual Report Analysis
Business Overview
- • Core revenue model: fuel cell equipment supply 79%, long-term maintenance services 21% in FY2025, mainly to public/private power producers
- • SOFC (Solid Oxide Fuel Cell) mass production started H2 2025 after KRW 155B investment and 50MW production capacity build
Management Discussion & Analysis
- • Revenue KRW 454.8B (+10.4% YoY); operating loss KRW 105.7B (vs. -1.7B prior year); net loss KRW 132.8B (vs. -10.5B prior year)
- • Fuel cell main device segment revenue up KRW 66.9B to KRW 359.0B; driven by increased shipments in general hydrogen power generation market
Risk Factors
- • 10% exchange rate movement → ±KRW 4.38B pretax impact on net income from foreign currency monetary assets and liabilities
- • KRW 375.1B financial liabilities due within 1 year, up from KRW 309.0B prior year
Doosan Fuel Cell FY 2025 Key Financial MetricsDART
Total Assets
KRW 1.20T
▲ +1.6% YoY
Operating Cash Flow
-KRW 56.5B
▼ -155.9% YoY
CapEx
KRW 34.3B
▼ -49.8% YoY
Source: KIFRS consolidated financial data from Doosan Fuel Cell 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