(LEAD) Doosan Enerbility swings to black in Q3 on solid energy biz

South Korean power plant equipment manufacturer Doosan Enerbility Co. reported a net profit of 14.9 billion won (US$11.1 million) for the third quarter of 2021, marking a turnaround from a loss of 24 billion won in the corresponding period a year earlier. Operating profit increased by 90.6 percent year-over-year to 261.2 billion won, while sales rose 14.7 percent to 4.44 trillion won.

The improved financial performance was attributed to a more favorable mix of higher-margin projects, such as nuclear power and gas turbines, as well as the normalization of costs on certain projects.

Doosan Enerbility expressed optimism about the future demand for large nuclear reactors globally, projecting growth through 2030. The company anticipates potential orders from projects in the United States, Europe, and other markets. Additionally, Doosan Enerbility's contract for supplying major equipment, including nuclear reactors, to the Czech Republic remains unaffected by negotiations between Korea Hydro & Nuclear Power Co. and a South Korean construction consortium over a nuclear reactor construction project.

The construction consortium terminated its negotiations with the state-run nuclear power operator due to disagreements over key terms.