Doosan Bobcat

Doosan Bobcat announced its first-quarter results on April 28. Due to the high base effect from the previous year and economic uncertainties, revenue was down 20% year-over-year, recording $ 1,444 million. The Operating profit decreased 44% year-over-year to $138 million with a 9.5% margin.

Sales fell by 6% compared to the previous quarter due to seasonal effects, but operating profit increased by 8% thanks to reduced logistics costs and price increases. Operating profit has improved for two consecutive quarters, rebounding from $92 million in Q3 last year.

Due to economic uncertainties and concerns over a potential recession, demand slowed, leading to a 20% drop in sales across products and regions compared to the previous year. (YoY Sales by product: Compact Equipment -22%, Material Handling -20%, Portable Power -22% / YoY Sales by region: North America -22%, Europe, Middle East and Africa -21%, Asia, Latin America, and Oceania -21%)

A Doosan Bobcat representative stated, "Although uncertainties related to reciprocal tariffs have increased, we anticipate advantages from having local production bases in the U.S. The high base effect from Q1 last year makes the year-on-year decrease appear larger, but the Q1 performance this year aligns with the company's target."

Earlier on the 24th, Doosan Bobcat announced that the Q1 dividend would be set at KRW 400 per share. Based on the corporate value enhancement plan established last year, Doosan Bobcat designated an annual minimum dividend of KRW 1,600 and announced a shareholder return ratio of 40% of consolidated net income. After the announcement, the company canceled treasury shares worth KRW 200 billion.