Doosan Bobcat said Thursday that it recorded revenue of 2.4635 trillion won and an operating profit of 167.4 billion won in the third quarter of this year. These figures increased by 16.5% and 25.3%, respectively, compared to the same period last year. The operating profit margin stood at 6.9%, a 0.5 percentage point increase over the same period.
In dollar terms, cumulative operating profit for the first three quarters of this year was $455 million. This amount represents 94% of last year's annual operating profit ($482 million), achieved within just three quarters. Driven by cash generation from operating activities and the inflow of tariff refunds, net cash at the end of the third quarter increased by approximately $100 million to $453 million.
By product category, core compact equipment led growth. Dollar-based revenue for compact equipment rose 15% year-on-year. This was due to shipments of volumes that had been deferred from the previous quarter, as well as increased demand from rental companies.
Industrial vehicle revenue grew by 8%, driven by expanded sales in key markets. Portable power also increased by 5%, riding on the strong performance of the North American construction market.
The company also showed balanced growth across regions. Revenue in North America, its largest market, increased by 15% year-on-year. This was supported by shipments of deferred compact equipment volumes and increased sales to large industrial vehicle customers.
Asia, Latin America, and Oceania (ALAO) grew by 14%, driven by strong sales in South America and a recovery in demand for industrial vehicles in India. Revenue in Europe, the Middle East, and Africa (EMEA) also rose by 3% as compact equipment demand continued and the industrial vehicle market recovered.
The company will continue its shareholder returns. Doosan Bobcat's board of directors decided on a third-quarter dividend of 400 won per share on the same day. In line with its corporate valuation enhancement plan, Doosan Bobcat has set a minimum annual dividend of 1,600 won per share and is implementing quarterly dividends.
in INDUSTRY
