Doosan Bobcat

Doosan Bobcat announced on February 10th that last year’s annual revenue was $6.269 billion, and its operating profit was $639 million.

Due to the downturn in the construction equipment market, revenue and operating profit decreased by 16% and 40%, respectively, compared to the previous year, and the operating profit margin was calculated to be 10.2%.

Sales also declined by product and region due to depressed demand. By product, compact equipment decreased by 15%, material handling by 22%, and portable power by 16%. By region, North America declined by 17%, EMEA by 21%, and ALAO by 5%.

In the fourth quarter, revenue decreased by 13% and operating profit by 34% year-over-year due to last year's high base effect, but compared to the previous quarter, revenue increased by 17% and operating profit by 40%.

Doosan Bobcat expects product demand to continue to be deferred under high-interest rates and provided guidance for 2025 of $6.4 billion in revenue, a slight increase of 2% from the previous year, and $600 million in operating profit, a 6% decrease due to the deterioration in profitability from diversification of sales channels.

On the same day, Doosan Bobcat resolved at the board of directors meeting to pay a year-end dividend of 800 won per share, which is scheduled to be paid within one month from the annual general meeting of shareholders. The yearly total dividend per share for 2024, including a quarterly dividend, is 1600 KRW.