Doosan Bobcat Q2 Operating Profit at KRW 204.2 Billion, Down 14.8% YoY

Revenue Reaches KRW 2.2 Trillion, Down 2%
Operating Profit Rises for Third Consecutive Quarter... Net Cash Increases

Doosan Bobcat announced on the 25th that its consolidated operating profit for the second quarter of this year was KRW 204.2 billion, a decrease of 14.8% compared to the same period last year. Revenue was KRW 2.2014 trillion, down 1.6%.

Doosan Bobcat cited inventory adjustments in advanced markets as the reason for the decline in performance. Although market demand was similar to last year, the company explained that it proactively reduced dealer inventories in preparation for uncertainties such as tariffs.

Compared to the previous quarter, revenue and operating profit increased by 4.9% and 2.1%, respectively. Operating profit has continued to grow for three consecutive quarters since hitting a low in the third quarter of last year. In US dollar terms, revenue and operating profit decreased by 3.8% and 16.3%, respectively.

By product, sales of compact equipment decreased by 6%, industrial vehicles by 9%, while the portable power segment increased by 4% due to higher sales of mobile generators. By region, North America declined by 5%, Europe, Middle East, and Africa (EMEA) by 6%, and Asia, Latin America, and Oceania (ALAO) by 10%, respectively.

As of the end of the second quarter, net cash stood at USD 115 million, an increase of USD 82 million compared to the end of last year. During the same period, Doosan Bobcat paid out USD 184 million through dividends and share buybacks and cancellations.

On this day, Doosan Bobcat decided to pay a second-quarter dividend of KRW 400 per share. The company switched from a semi-annual dividend system to a quarterly dividend system starting this year.