Doosan Enerbility : 2022 Performance and 2023 Business Plan
February 14, 2023 at 03:20 am EST
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Doosan Enerbility Co., Ltd.
2022 Earnings Release & Business Plan
February 2023
Disclaimer
This presentation was prepared for the convenience of investors. The financial figures contained in this presentation are K-IFRS consolidation and Doosan Enerbility managerial consolidation1) basis.
Also, this presentation has been prepared prior to the completion of external audit, only for the convenience of investors. Accordingly, it may be subject to change during the final audit process.
This presentation is provided only as a reference material. Doosan Enerbility assumes no responsibility for your decisions.
Orders increased by 19.6% YoY incl. Saudi C&F1) and Desalination projects, Guam CCPP, Egypt nuclear power plant construction and US SMR projects
Sales increased by 37.1% YoY driven by strong sales growth in large EPC projects in '22 and new orders in '21
EBIT decreased due to impact of global raw material price hike
Net loss recorded mainly from one-offnon-cash valuation losses
Net debt decreased by KRW 1,344Bn, resulted 52.7%p improvement in L/E ratio with financial restructuring effort
Summary
(Unit : KRW Bn, %)
'21
'22
YoY
'22.3Q
'22.4Q
QoQ
Orders
6,340
7,584
+19.6%
1,528
2,794
+82.8%
Backlog
13,456
14,482
+7.6%
13,779
14,482
+5.1%
Sales
4,783
6,558
+37.1%
1,567
2,091
+33.4%
EBIT
241
167
-30.5%
39
19
-50.6%
%
5.0%
2.6%
-2.4%p
2.5%
0.9%
-1.6%p
EBITDA
423
338
-86
79
60
-20
Non-OP
-125
-983
-858
-56
-759
-703
Interest Balance
-205
-155
+50
-41
-39
2
Others
80
-828
-908
-14
-720
-705
Net Profit
288
-864
-1,152
55
-658
-713
Net Debt
3,914
2,570
-1,344
2,508
2,570
62
Liability/Equity ratio
171.6%
118.9%
-52.7%p
114.6%
118.9%
+4.3%p
1) C&F - Casting & Forging
4
'22 Key results - Net P/L, FCF
Despite of large reduction in interest expense, one-off events such as re-valuation of subsidiary share price and PRS position resulted net loss
One-offevents are mostly non-cash charges and the company significantly reduced debt level resulting consecutive improvement on L/E ratio in three years
Net P/L
(Unit : KRW Bn)
1,673
-155
-75
-801
-864
EBIT
Interest
Others
One-off
'22
FCF
balance
Event1
Net P/L
1,673
-155
1,371
1,344
-39
EBIT
Interest
Financial
'22
Operating
balance
restructuring, etc2)
FCF
L/E ratio improvement
239.6%
-120.7%
171.6%
118.9%
'20
'21
'22
1) Invested stock's revaluation loss KRW -634B, Financial restructuring(Subsidiary sale) KRW -122B, etc.
5
2 ) Invested stock's revaluation loss (No impact), Financial restructuring(Capital increase, Warrant, Subsidiary sale) KRW 1,722B, etc.
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Doosan Enerbilit Co. Ltd. published this content on 14 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2023 08:19:10 UTC.
Doosan Enerbility, formerly Doosan Heavy Industries & Construction Co Ltd, is a Korea-based company principally engaged in the industrial equipment manufacture business. The Company operates its business through six segments. The Doosan Bobcat Business segment is engaged in the manufacture and sale of construction machinery and compact equipment. The Doosan Heavy Industry Business segment is engaged in the manufacture of turbines, water treatment facilities and others. The Doosan Infracore Business segment is engaged in the manufacture and sale of internal combustion engines, construction machineries, transportation equipment and parts. The Doosan Construction Business segment is engaged in the commercial and residential buildings, roads, bridges and railways construction businesses. The Doosan Fuel Cell Business segment is engaged in the manufacture and repair services of fuel cell. The Other Business segment is engaged in the operation of golf courses.
DOOSAN ENERBILITY CO., LTD. 
