Doosan, Q3 Sales 4.3 Trillion KRW and Operating Profit 340.6 Billion KRW Up 42.7%

[Asia Economy Reporter Jeong Dong-hoon] Doosan announced that its consolidated operating profit for the third quarter of this year was tentatively estimated at 340.6 billion KRW, a 42.7% increase compared to the same period last year.

According to Doosan on the 3rd, third-quarter sales reached 4.3883 trillion KRW, up 34.5% year-on-year, and net profit turned positive at 83.8 billion KRW.

Doosan's own business recorded third-quarter sales of 330.7 billion KRW and operating profit of 33.3 billion KRW. Sales increased by 5.1% year-on-year through balanced growth across all business divisions, including the Electronics BG (responsible for electronic components business).

Despite inflation and the global economic downturn, Electronics BG saw a 4.7% year-on-year increase in sales due to strong network product sales. New business sectors such as Doosan Robotics, Doosan Mobility Innovation, and Doosan Logistic Solutions also continued their growth trend.

Major subsidiary Doosan Enerbility recorded sales of 3.9603 trillion KRW and operating profit of 314.6 billion KRW. Compared to the same period last year, sales increased by 35.2% and operating profit by 40.8%.

Cumulative orders for the third quarter reached 4.7901 trillion KRW, a 62% increase compared to the same period last year. Order amounts have continued to rise, with 4.6 trillion KRW in 2020, 6.3 trillion KRW in 2021, and 7.9 trillion KRW in 2022.

The debt ratio improved by 41.2 percentage points from the end of the previous year to 128.1% due to efforts to improve the financial structure. Doosan Bobcat posted sales of 2.3789 trillion KRW and operating profit of 316.9 billion KRW, up 54% and 144% respectively year-on-year. The operating profit margin was 13.3%.

The significant increase in operating profit compared to the same period last year was analyzed to be due to increased sales from improved parts supply, price hikes in the North American region, and efficient promotion cost execution.

Doosan Bobcat showed balanced growth across all product lines this quarter and maintained double-digit operating profit margins for three consecutive quarters.

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