Doosan Corporation Reports Q3 Operating Profit of 220 Billion KRW, Up 19.9% Year-on-Year

[Asia Economy Reporter Dongwoo Lee] Doosan Corporation announced on the 16th that its consolidated operating profit for the third quarter of this year recorded 217.4 billion KRW, an increase of 19.9% compared to the same period last year.

During the same period, sales decreased by 0.9% to 4.1995 trillion KRW, and net loss was recorded at 35.9 billion KRW.

Doosan Corporation's third-quarter standalone business performance recorded sales of 644.6 billion KRW and operating profit of 56.5 billion KRW on a consolidated basis.

The company explained that operating profit increased compared to last year due to increased sales of high-end network materials from the Electronics BG (Business Group).

Doosan Corporation forecasted that the fourth-quarter performance will further improve, supported by the launch of new electric forklift products and expansion of the unmanned forklift line in the Industrial Vehicle BG.

Doosan Heavy Industries & Construction's third-quarter performance this year recorded sales of 3.6588 trillion KRW and operating profit of 171.7 billion KRW. Although net loss was 80.7 billion KRW due to one-time costs such as restructuring and Doosan Construction's bad debt provisions, operating profit was boosted by increased orders in the third quarter.

Doosan Infracore recorded sales and operating profit of 1.9284 trillion KRW and 176.1 billion KRW, respectively, during the same period, while Doosan Bobcat recorded sales of 1.0849 trillion KRW and operating profit of 111.2 billion KRW.

Doosan Fuel Cell, which is not reflected in Doosan Corporation's consolidated financial statements, recorded sales and operating profit of 174 billion KRW and 12.5 billion KRW, respectively, during the same period.

This content was produced with the assistance of AI translation services.