Doosan is projected to record its highest quarterly operating profit in three years during the second quarter, driven by the global AI infrastructure boom. According to a consensus survey by Yonhap Infomax of six major securities firms that submitted earnings forecasts within the past month, Doosan's consolidated revenue is estimated at 5.5245 trillion won, up 3.33% year-over-year, with operating profit reaching 459 billion won, a 28.27% increase. The surge is attributed to rapidly expanding supply of high-value materials from the company's Electronics BG, fueled by global data center investment growth. This would mark the highest quarterly operating profit since the second quarter of 2023, when the company recorded 512 billion won, and the highest operating margin in 12 quarters.
Doosan Projects 459 Billion Won Q2 Operating Profit
The consensus forecast shows Doosan's second-quarter revenue reaching 5.5245 trillion won, rebounding from just over 5 trillion won in the first quarter. Two securities firms projected operating profit would exceed 500 billion won. The improved performance represents a significant step up from the company's prolonged earnings plateau.
![Doosan Revenue and Operating Profit Consensus]()
Doosan Revenue and Operating Profit Consensus [Source: Yonhap AI Platform]
Electronics BG CCL Products Drive Revenue Growth
The strong performance is attributed to expanded supply of high-value copper clad laminate (CCL) products from the Electronics BG. Analysts noted that sales of high-end product lines surged as semiconductor industry recovery coincided with strong demand for AI data centers. CCL products for optical modules, which were centered on 400 gigabit per second (400G) specifications at the beginning of last year, are estimated to be rapidly transitioning to 800G this year with a roadmap advancing toward next-generation 1.6 terabit (1.6T) high-speed standards.
Analysts Forecast Continued Momentum Through Second Half
Lee Joo-hyung, analyst at Eugene Investment & Securities, stated that "CCL for optical modules uses different production capacity (CAPA) than existing network and memory semiconductor packaging CCL, so there is sufficient room to respond to additional demand expansion." Lee added that "the second half has optical module upside and new customer expansion, and in the mid-to-long term, there is momentum for new greenfield expansion for NWB (network equipment)." Lee Na-ye, analyst at Korea Investment & Securities, said that "shipments of new products to major customers started in June, and related sales will be reflected in earnest from the third quarter."
Mid-to-long-term growth base establishment and governance restructuring moves are also taking concrete shape. In addition to the new factory construction in Arayat, Thailand, a new greenfield investment targeting operation in the second half of 2027 has reportedly entered the final decision stage.
Doosan Stock Closes at 1.202 Million Won
Doosan's stock price closed at 1.202 million won on the previous trading day. The average target price from securities firms that submitted consensus forecasts was formed around 2.42 million won.
![Doosan Stock Price Trend]()
Doosan Stock Price Trend [Source: Yonhap Infomax Screen Number 5000]
FAQ
What is Doosan's projected operating profit for Q2?
Doosan's second-quarter operating profit is projected at 459 billion won, representing a 28.27% year-over-year increase and the highest quarterly operating profit in three years since the second quarter of 2023.
Why is Doosan's Q2 performance expected to improve?
The performance improvement is driven by expanded supply of high-value copper clad laminate (CCL) products from the Electronics BG, fueled by semiconductor industry recovery and strong AI data center demand, particularly for optical module CCL transitioning from 400G to 800G and 1.6T specifications.
What is Doosan's current stock price and target price?
Doosan's stock closed at 1.202 million won on the previous trading day, while the average target price from securities firms submitting consensus forecasts was approximately 2.42 million won.
