Doosan Bobcat Q3 Operating Profit 129.6 Billion KRW... Up 16.5% YoY

Sales Revenue of 1.5463 Trillion Won... 42.5% Increase Compared to Previous Year

Doosan Bobcat Compact Excavator
Photo by Doosan Bobcat

[Asia Economy Reporter Kim Heung-soon] Doosan Bobcat announced on the 29th that its consolidated operating profit for the third quarter of this year was tentatively estimated at 129.6 billion KRW, a 16.5% increase compared to the same period last year. Sales reached 1.5463 trillion KRW, up 42.5% year-on-year.

Doosan Bobcat (excluding Doosan Industrial Vehicle) showed balanced growth across all regions in the third quarter. In the North American region, sales grew 23.1% year-on-year (in USD) due to economic recovery and strong sales of GME (agriculture and landscaping equipment) product lines. Despite difficulties caused by supply chain bottlenecks, GME sales increased by 32.8% as the economic recovery continued, and sales of loaders and mini excavators also rose by 30.2%.

The EMEA (Europe, Middle East, and Africa) region experienced 17% growth year-on-year due to aggressive sales activities and a base effect. In the ALAO (Asia, Latin America, and Oceania) region, sales grew 26.2% during the same period, driven by increased demand from economic stimulus measures in Oceania and Latin America.

Meanwhile, Doosan Industrial Vehicle, which was incorporated as a subsidiary of Doosan Bobcat in July, recorded sales of 255.8 billion KRW in the third quarter. Doosan Bobcat explained that this was the result of strong sales in key markets including the domestic market, where it maintains the number one market share, as well as North America and Europe. The market share of engine-powered forklifts in North America, which was around 6% in 2019, exceeded 11% as of the third quarter this year.

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