Doosan Bobcat Reports Record High Operating Profit of 1.4 Trillion KRW Last Year

Decision on Year-End Dividend of 800 Won per Share

Doosan Bobcat announced on the 7th that its operating profit last year reached a record high of 1.4 trillion KRW.

Doosan Bobcat's consolidated sales last year amounted to 9.7589 trillion KRW, a 13% increase compared to the previous year. Operating profit rose 30% to 1.3899 trillion KRW, with an operating profit margin of 14.2%. Fourth-quarter sales decreased by 3% year-on-year to 2.3156 trillion KRW, while operating profit increased by 2% to 256.1 billion KRW.

Doosan Bobcat explained that strong product demand in the North American region and the resolution of supply issues significantly boosted sales. Sales in North America, which accounts for more than 70% of total sales, increased by 15%, driving growth, while Europe, Middle East, and Africa (EMEA) decreased by 7%, and Asia, Latin America, and Oceania (ALAO) declined by 2%.

By product category, small equipment sales increased by 10% compared to the previous year, industrial vehicles by 19%, and portable power by 26%, showing balanced growth.

Doosan Bobcat maintained a net cash position following the third quarter of last year, achieving a debt ratio of 74%.

For this year’s full-year performance outlook, Doosan Bobcat projected sales of 9.3441 trillion KRW and operating profit of 1 trillion KRW. It expects a slight decrease in sales as the market shifts toward consumer-centric demand, and profitability to decline due to the disappearance of one-time gains from the previous year and increased expenses in marketing and research and development (R&D).

Meanwhile, at the board meeting held on the same day, Doosan Bobcat resolved a year-end dividend of 800 KRW per share and decided the dividend record date as March 29, in line with the ‘Dividend Procedure Improvement Plan’ introduced last year.