ArrowArtboardCreated with Sketch.Title ChevronCrossEye IconFacebook IconIcon FacebookGoogle Plus IconLayer 1InstagramCreated with Sketch.Linkedin IconIcon LinkedinShapeCreated with Sketch.Icon Mail ContactPath LayerIcon MailMenu BurgerIcon Opinion QuotePositive ArrowIcon PrintRSS IconIcon SearchSite TitleTitle ChevronTwitter IconIcon TwitterYoutube Icon
Producer Manufacturing

Doosan Heavy Industries & Construction Co., Ltd.

  • 14,850.00 KRW
  • +100.00
  • +0.68%
  • South Korea
    Aug 17, 2018
  • Ticker
    KRX(034020)
  • Prev. close
    14,750
  • Market cap (KRW)
    1,727.91B
  • Market cap (USD)
    1,536.26M
  • Shares
    117.14M

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 Heavy Industries & Construction 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 2017 KRWUSD
Revenue14,523.55B12,846.90M
Gross Profit2,437.07B2,155.73M
Operating income747,227.11M660.96M
Income before tax117,919.85M104.30M
Net income-271,527.33M-240.18M
EBITDA1,260.33B1,114.84M
Diluted EPS-2,531.50-2.23
Dividends Per Share5500.48
Total Assets24,962.31B23,317.28M
Total liabilities18,396.37B17,184.03M
Total equity3,386.80B3,163.61M
Operating cash flow429,324.78M379.76M
Currency in KRWCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 19,208.17B 18,127.52B 14,470.54B 13,952.27B 14,523.55B
Gross Profit 3,089.21B 2,951.12B 2,059.05B 2,362.92B 2,437.07B
Operating income 929,511.73M 826,242.83M -310,588.74M 588,177.94M 747,227.11M
Income before tax 98,688.76M -106,251.88M -1,531.02B -244,298.47M 117,919.85M
Net income 69,223.51M -94,675.17M -996,943.76M -256,393.15M -271,527.33M
EBITDA 1,465.91B 1,396.77B 272,677.25M 1,109.65B 1,260.33B
Diluted EPS 772 -868.39 -9,525.95 -4,224.58 -2,531.50
Dividends Per Share 750 750 850 550 550
Total Assets 27,725.48B 27,551.90B 27,260.14B 24,832.56B 24,962.31B
Total liabilities 19,813.68B 19,874.90B 20,234.03B 18,009.73B 18,396.37B
Total equity 4,726.63B 4,659.41B 3,580.66B 3,475.66B 3,386.80B
Operating cash flow 150,437.82M 603,808.92M -74,372.14M 967,566.78M 429,324.78M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 17,545.51M 17,220.70M 12,785.39M 12,025.86M 12,846.90M
Gross Profit 2,821.81M 2,803.49M 1,819.26M 2,036.67M 2,155.73M
Operating income 849.05M 784.91M -274.41M 506.96M 660.96M
Income before tax 90.14M -100.93M -1,352.73M -210.56M 104.30M
Net income 63.23M -89.93M -880.84M -220.99M -240.18M
EBITDA 1,339.02M 1,326.90M 240.92M 956.44M 1,114.84M
Diluted EPS 0.70 -0.82 -8.41 -3.64 -2.23
Dividends Per Share 0.68 0.71 0.75 0.47 0.48
Total Assets 26,271.36M 25,066.55M 23,248.59M 20,560.16M 23,317.28M
Total liabilities 18,774.51M 18,082.06M 17,256.43M 14,911.19M 17,184.03M
Total equity 4,478.73M 4,239.11M 3,053.74M 2,877.67M 3,163.61M
Operating cash flow 137.41M 573.60M -65.71M 833.97M 379.76M

Valuation Measures

Dec 2017
PER--
ROA-1.09%
ROE-7.91%
Operating margin5.14%
Profit margin-1.86%

Key executives

  • Vice Chairman & Co-Chief Executive Officer: Ji-Won Park
  • Vice Chairman, Co-Chief Executive Officer & COO: Ji-Taik Chung
  • Chief Operating Officer: Hong-Wuk Park
  • Co-Chief Operating Officer & Head-Vina Office: Yeon-In Jeong
  • Co-COO, Senior MD & Head-Marketing: Young-Chil Jeong

Shareholders

  • Doosan Corp. (37.5%)
  • National Pension Service of Korea (7.4%)
  • Dimensional Fund Advisors LP (1.5%)
  • The Vanguard Group, Inc. (1.4%)
  • BlackRock Fund Advisors (1.4%)
  • Norges Bank Investment Management (0.6%)
  • BlackRock Advisors (UK) Ltd. (0.3%)
  • Global X Management Co. LLC (0.2%)
  • Mirae Asset Global Investments Co., Ltd. (0.2%)
  • BlackRock Investment Management (UK) Ltd. (0.2%)

Contact Details

Related Companies

  • Doosan Gridtech Services LLC
  • Happy Tomorrow 27th Co., Ltd.
  • Doosan Heavy Industries America Holdings, Inc.
  • Doosan Gridtech, Inc.
  • Doosan Heavy Industries Vietnam Haiphong Co. Ltd.
  • Doosan International South Africa (Pty) Ltd.
  • Doosan Enpure Ltd.
  • Doosan Power Systems India Pvt Ltd.
  • Doosan Heavy Industries Vietnam Co. Ltd.
  • AE&E Chennai Works Pvt Ltd.
  • Ceylon Heavy Industries & Construction Co. Ltd.
  • AE&E I.D.E.A. (India) Pvt Ltd.
  • Doosan IMGB SA
  • Doosan Power Systems Holdings Ltd.
  • Doosan International India Pvt Ltd.
  • ACT Independent Turbo Services, Inc.
  • Doosan Heavy Industries America Corp.
  • Doosan Skoda Power s.r.o.
  • N. Shaper, Inc.
  • Kvaerner IMGB
  • American Engineering Services, Inc. /RO-Type Ops/
  • Doosan Heavy Industries & Construction Co., Ltd. ESOA
  • Doosan Babcock Ltd.
  • Doosan Engineering & Construction Co., Ltd

Competitors

  • Kubota Corporation
  • Caterpillar Inc.
  • Volvo AB Class B
  • Deere & Company
  • Komatsu Ltd.
  • Hitachi Construction Machinery Co., Ltd.
  • Hyundai Heavy Industries Co., Ltd.
  • Dongbu Corporation
  • Constructions Navales Industrielles de la Mediterranee
  • Kye-Ryong Construction Industrial Co., Ltd.
  • Babcock & Wilcox Enterprises Inc
  • BHI Co., Ltd.
  • Hyunjin Materials Co., Ltd
  • BWX Technologies, Inc.
  • Electro Power Systems S.A.
  • PBG S.A.
  • Ampco-Pittsburgh Corporation
  • Veolia Environnement SA
Last Updated on 17 Aug, 2018

You have {{numberReadArticles}} FREE ARTICLE{{numberReadArticles-plural}} left this month

Subscribe to get unlimited access to all articles.

Get unlimited access
NAR site on phone, device, tablet

You have {{numberReadArticles}} FREE ARTICLE{{numberReadArticles-plural}} left this month

Subscribe to get unlimited access to all articles.

3 months for $9

Get unlimited access
NAR site on phone, device, tablet

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media