ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Producer Manufacturing

Doosan Enerbility Co., Ltd.

Company Background

Doosan Heavy Industries & Construction is a South Korean maker of electric power plants and large transport machinery such as port cranes. Doosan Heavy is the core company of Doosan group, a renowned South Korean conglomerate that has a history of more than 100 years and has sent many top executives to head the Korea Chamber of Commerce and Industry.

But Doosan Heavy joined the group as recently as in 2001. Hyundai Yanghaeng, founded in 1962, became government-owned and was then purchased by Doosan, the holding company of the group. As a result, it has adopted its current name.

Park Gee-won, vice chairman and CEO of Doosan Heavy Industries, is from the founding family of Doosan group. His uncle Park Yong-maan is the owner and manager of the group serving as chairman of Doosan, while elder brother Park Jeong-won also holds a key post in the group.

With its pressured-water reactor technology, Doosan Heavy has been involved in the construction of most of the nuclear power plants in South Korea. It has tied up with Westinghouse Electric, a U.S. company belonging to Japan's Toshiba.

The South Korean government is seeking to increase exports of nuclear power plants as a national policy. In 2009, a consortium of South Korean companies concluded a deal to build four nuclear power plants in the Emirate of Abu Dhabi, one of the seven states forming the United Arab Emirates, marking South Korea's first nuclear power plant export. Along with firms such as Korea Electric Power, Doosan Heavy is a key member of the consortium.

Also engaging in water-processing work such as desalination of seawater, factory disposal and sewage treatment, Doosan Heavy has won orders from Saudi Arabia and other countries.

Business Summary

Doosan Enerbility Co., Ltd. engages in the provision of water treatment, construction and power plant projects. It operates through the following business areas: Power Generation, Water, Industry, Castings and Forgings, and Construction. The Power Generation business offers power plants, power generation equipment, retrofits and upgrades. The Water business provides seawater desalination plants and water treatment systems. The Castings and Forgings business engages in power generation, shipbuilding, iron and steel making, petrochemical and industrial components, mold and tool steel production. The Construction business involves in different plants, civil engineering and architecture. The company was founded on September 20, 1962 and is headquartered in Changwon, South Korea.

Financial Highlights

Dec 2021 KRWUSD
Gross Profit1,767.03B1,543.04M
Operating income875,322.79M764.36M
Income before tax549,384.26M479.74M
Net income276,071.82M241.07M
Diluted EPS867.030.75
Dividends Per Share00
Total Assets23,720.54B19,954.19M
Total liabilities14,912.94B12,545.06M
Total equity6,091.42B5,124.22M
Operating cash flow1,027.71B897.44M
Currency in KRWCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 13,841.32B 14,761.06B 15,659.67B 9,171.51B 11,283.61B
Gross Profit 2,415.22B 2,511.14B 2,582.42B 964,259.45M 1,767.03B
Operating income 735,169.98M 657,506.01M 923,315.80M -146,438.00M 875,322.79M
Income before tax 130,869.12M -73,783.93M 109,533.76M -775,302.02M 549,384.26M
Net income -240,200.53M -450,704.23M -408,011.97M -882,378.65M 276,071.82M
EBITDA 1,230.67B 1,149.40B 1,474.20B 217,781.99M 1,309.27B
Diluted EPS -2,129.00 -3,464.73 -2,494.13 -4,106.30 867.03
Dividends Per Share 0 0 0 0 0
Total Assets 24,962.31B 24,814.91B 24,809.24B 25,567.17B 23,720.54B
Total liabilities 18,396.37B 18,596.48B 18,607.25B 18,460.67B 14,912.94B
Total equity 3,386.80B 2,804.84B 2,562.13B 3,188.38B 6,091.42B
Operating cash flow 429,324.78M 989,560.09M 433,679.70M 295,223.70M 1,027.71B
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 12,243.43M 13,412.83M 13,428.12M 7,773.20M 9,853.31M
Gross Profit 2,136.40M 2,281.78M 2,214.42M 817.24M 1,543.04M
Operating income 650.29M 597.45M 791.74M -124.11M 764.36M
Income before tax 115.76M -67.04M 93.92M -657.09M 479.74M
Net income -212.47M -409.53M -349.86M -747.84M 241.07M
EBITDA 1,088.59M 1,044.42M 1,264.13M 184.57M 1,143.31M
Diluted EPS -1.88 -3.14 -2.13 -3.48 0.75
Dividends Per Share 0 0 0 0 0
Total Assets 23,317.28M 22,239.56M 21,452.93M 23,536.01M 19,954.19M
Total liabilities 17,184.03M 16,666.50M 16,089.97M 16,994.08M 12,545.06M
Total equity 3,163.61M 2,513.75M 2,215.51M 2,935.08M 5,124.22M
Operating cash flow 379.76M 899.17M 371.87M 250.21M 897.44M

Valuation Measures

Dec 2021
Operating margin7.75%
Profit margin2.44%

Key executives

  • Co-Chief Executive Officer & Director: Ji-Won Park
  • Co-CEO, Director & Head-Finance Management: Hyoung-Hee Choi
  • Co-Chief Executive Officer & Director: Myung-Woo Kim
  • Vice President: Gi-Ryong Ha
  • Vice President & Head-Marketing: Sung-Won Kim


  • Doosan Corp. (30.5%)
  • National Pension Service of Korea (5.4%)
  • Doosan Heavy Industries & Construction Co., Ltd. ESOA (2.8%)
  • The Vanguard Group, Inc. (1.6%)
  • BlackRock Fund Advisors (1.1%)
  • Norges Bank Investment Management (0.6%)
  • Samsung Asset Management Co., Ltd. (0.5%)
  • BlackRock Advisors (UK) Ltd. (0.4%)
  • Global X Management Co. LLC (0.3%)
  • Mirae Asset Global Investments Co., Ltd. (0.3%)

Contact Details

Related Companies

  • Doosan Property Co. Ltd.
  • Doosan GridTech LLC
  • Doosan Babcock Energy Polska SA
  • Doosan Power Service America LLC
  • Osung Power O&M Co., Ltd.
  • Doosan Power Systems (Scotland) LP
  • Doosan Lentjes Czech sro
  • Doosan GridTech C&I LLC
  • Doosan GridTech EPC LLC
  • Doosan Turbomachinery Services Holding, Inc.
  • Doosan ATS America LLC
  • Doosan Heavy Industries America LLC
  • Doosan Power Systems Arabia Co., Ltd.
  • Doosan Heavy Industries Muscat LLC
  • Doosan Heavy Industries Japan Corp.
  • Doosan Heavy Industries Malaysia Sdn. Bhd.
  • PT Doosan Heavy Industries Indonesia
  • Doosan HF Controls Asia Co., Ltd.
  • Doosan HF Controls Corp.
  • Clubmow Country Club
  • Continuity Energy LLC
  • Doosan Gridtech Services LLC
  • Doosan GridTech CA LLC
  • Happy Tomorrow 27th Co., Ltd.
  • Doosan Turbomachinery Services, Inc.
  • Doosan Heavy Industries America Holdings, Inc.
  • Doosan GridTech, Inc.
  • Doosan Bobcat, Inc.
  • DBC Co., Ltd.
  • Doosan Heavy Industries Vietnam Haiphong Co. Ltd.


  • Korea Electric Power Corporation
  • Dalian Huarui Heavy Industry Group Co., Ltd. Class A
  • SINOMACH Heavy Equipment Group Co., Ltd. Class A
  • CNIM Group SA
  • Dongbu Corporation
  • Veolia Environnement SA
  • Hyunjin Materials Co., Ltd
  • BWX Technologies, Inc.
  • BHI Co., Ltd.
  • PBG S.A.
  • Firstec Co., Ltd
Last Updated on 4 Oct, 2022

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more