Doosan Bobcat

On 24 June 2018, Doosan Bobcat announced that it had settled the installment of $150 million of its borrowings in advance on June 23 (U.S. time). It is the company’s second early repayment in 2018, and since its borrowing of 1.7$ billion in 2014, the company has made its six early repayments amounting to $670 million USD in total.

The company’s consolidated debt has decreased by more than 40% to $978 million as of July 2018 from $ 1.7 billion in 2014, and its debt ratio is expected to decrease to 72% by the end of this year from 105% at the end of 2014.

With this early repayment, Doosan Bobcat expects to reduce its debt ratio by over 4% points compared to that posted at the end of June 2018, while increasing the net income thanks to its decreased interest expenditure.

The company’s net income grows at a CAGR of 36.0%, rising from $131 million USD in 2015 to $242 million USD in 2017, supported by its efforts to improve its financial profile through refinancing, debt restructuring and credit rating improvement initiatives and the impact of US corporate tax cuts.

“This early debt repayment is noteworthy as it indicates that the company’s performance is so solid that it continues to improve the financial structure while making active investments,” said an official of Doosan Bobcat. "Based on our sound financial structure, we will focus its investment activities to secure the future growth engine and further enhance our presence in the compact equipment market."

In June 2018, the company acquired a backhoe loader plant in India to expand its market share in India. The company is currently preparing to launch new products in Europe and the United States in 2019.

■ Doosan Bobcat’s early repayment of borrowings by year
Unit:USD Mil

■ Debt Ratio