Doosan Heavy Industries Co., South Korea's top power equipment maker, said Thursday its loss narrowed sharply last year from the previous year largely thanks to tough restructuring moves aimed at reducing costs.

Net loss reached 216 billion won ($189 million) on a consolidated basis last year, compared with a loss of 1.75 trillion won a year earlier, the company said in a regulatory filing.

The company also logged an operating income of 791 billion won last year, shifting from an operating loss of 27 billion won the previous year.

Sales fell 4 percent on-year to reach 13.89 trillion won last year, it added.

Doosan Heavy said despite decreased sales, its efforts to restructure the company by focusing on profitable projects and cutting costs paid off.

Also, its affiliates' improved performance helped it log a better-than-expected bottom line, the company said.

Doosan Heavy said it received orders totaling 9.05 trillion won last year, up 5.7 percent from a year earlier, with its order backlog amounting to 20.53 trillion won.

Doosan Heavy expects its operating income to reach 950 billion won this year, with 15.7 trillion won in sales expected this year. (Yonhap)