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Doosan Bobcat Reports Q3 Earnings… Announces to Participate in “Corporate Value-up” Program
2024-10-28Article Content
- - Revenue Decreased Amid Uncertainties, Profit Declined from Fixed Cost Burden
- Company to Announce Long-term Shareholder Return Policy within the Year
Doosan Bobcat announced on October 28th, through a public disclosure, that its third-quarter revenue was USD 1.306 billion, with an operating profit of USD 92 million.
Revenue decreased by 28% YoY amid external uncertainties and dealer inventory adjustment. Operating profit dropped by 59% due to the burden of fixed costs from adjusted production volumes.
Regarding sales by product, Compact Equipment decreased by 30%, Material Handling by 22%, and Portable Power by 17%. Regionally, sales fell by 29% in North America, 28% in EMEA (Europe, Middle East, Africa), and 16% in ALAO (Asia, Latin America, Oceania).
On the same day, Doosan Bobcat also disclosed that it will announce the “Corporate Value-Up Plan.” The company plans to demonstrate its mid-to-long-term shareholder return policy further within the year.