Doosan Bobcat Q3 Operating Profit 125.7 Billion KRW... 58% Decrease YoY

Announcement of Long-term Shareholder Return Plan Within the Year

Doosan Bobcat announced on the 28th that its operating profit for the third quarter recorded 125.7 billion KRW, a 57.8% decrease compared to the same period last year. Sales reached 1.7777 trillion KRW, down 24.9% year-on-year.

By product, sales (in USD) of compact equipment decreased by 30%, while industrial vehicles and portable power also declined by 22% and 17%, respectively.

By region, North America saw a 29% decrease, while Europe, the Middle East, and Africa (EMEA) and Asia, Latin America, and Oceania (ALAO) experienced declines of 28% and 16%, respectively.

Doosan Bobcat stated in a disclosure announcing plans to enhance corporate value (Value-Up) that it intends to announce a medium- to long-term shareholder return policy within the year.

A Doosan Bobcat official said, "We are preparing a comprehensive shareholder return policy for disclosure. Although nothing has been finalized yet, we will also consider special shareholder returns based on available dividend resources if necessary. We will transparently disclose specific plans for business growth, including synergy realization measures and additional M&A directions, as soon as they are decided, along with the shareholder return policy through the Value-Up program."

Meanwhile, Doosan Bobcat completed the acquisition of Motrol on the 4th and changed its corporate name to 'Doosan Motrol.' Doosan Bobcat expects to internalize key components using Doosan Motrol to maintain a stable business. Doosan Motrol's performance will be reflected starting from the fourth quarter.