Cumulative Operating Profit Surpasses 1 Trillion Won in Just Three Quarters
Doosan Corporation announced on the 2nd that it achieved consolidated sales of KRW 4.5388 trillion and an operating profit of KRW 319.7 billion in the third quarter. Sales increased by 3.4% compared to the previous year, while operating profit decreased by 6.1%. Net profit for the period was KRW 104.4 billion, up 24.6% year-on-year.
Operating profit recorded KRW 1.1699 trillion cumulatively for the first three quarters of this year. It surpassed last year's full-year operating profit (KRW 1.1126 trillion) within just three quarters, maintaining a solid performance despite challenging external conditions.
Doosan Corporation's own business posted third-quarter results of KRW 303 billion in sales and KRW 19.6 billion in operating profit. Improvements in the Electronics BG and Distribution BU business units led to slight growth compared to the previous quarter. The fourth quarter is expected to see increases in sales and operating profit compared to the third quarter due to balanced growth across all business units.
Doosan Enerbility recorded consolidated sales of KRW 4.155 trillion and an operating profit of KRW 311.4 billion in the third quarter. Sales grew 4.9% year-on-year due to performance growth based on increased orders and the impact of subsidiaries such as Bobcat. Order intake reached approximately KRW 5.9 trillion cumulatively for the first three quarters, driven by orders for Shinhanul Units 3 and 4 and combined cycle power plants in Kazakhstan.
Doosan Bobcat announced on the 27th of last month that it posted third-quarter sales of KRW 2.366 trillion and an operating profit of KRW 297.6 billion. Despite a high base effect from last year's strong growth, sales decreased by only 0.5% year-on-year, maintaining the previous year's level. Operating profit fell by 6%, and the operating profit margin decreased by 0.7 percentage points due to active marketing expenditure.
By product (based on dollar sales), compact equipment for construction and agriculture/landscaping maintained last year's level with only a 1% decrease in sales despite a high base effect. The portable power product line, which saw increased demand due to rising oil prices, grew by 16%, and the industrial vehicle product line recorded 5% growth as demand continued from customers with nationwide sales networks across North America (National account).
Doosan Fuel Cell posted third-quarter sales of KRW 45.6 billion and an operating profit of KRW 700 million. Sales increased by 54% year-on-year due to increased main equipment sales and improved service profitability, and operating profit turned positive compared to the same period last year.
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