Doosan, Operating Profit of 1.038 Trillion KRW in 2024... Increase in Own Business Performance
Operating Profit Down 30.1% Year-on-Year
Electronics BG Sees Increased Sales of AI-Related Products
Doosan recorded consolidated sales of 18.1329 trillion KRW and operating profit of 1.0038 trillion KRW in 2024. Due to the delayed recovery of the global construction market, these figures represent decreases of 5.2% and 30.1%, respectively, compared to the previous year.
On the 19th, Doosan announced these business results for the past year. The company stated that sales and operating profit declined compared to the previous year due to worsening performance of affiliates amid expanding domestic and international uncertainties. However, net profit increased year-on-year by improving non-operating income and expenses. Last year's net profit was 302.2 billion KRW, up 11.1% from 272.1 billion KRW the previous year.
The decline in operating profit was mainly attributed to the poor performance of its affiliate, the small equipment company 'Doosan Bobcat.' Doosan Bobcat recorded an operating profit of 871.4 billion KRW last year, down 37.7% from 1.3979 trillion KRW in 2023. Doosan explained that production of small equipment was adjusted due to the slowdown in the construction industry. The company expects purchase deferrals to continue this year amid a high-interest-rate environment. However, it also noted that market share expansion is anticipated, and the acquisition process of the hydraulic specialist company 'Motrol' has been completed, which may have a consolidation effect.
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
- "Am I Really in the Top 30%?" and "Worried About My Girlfriend in the Bottom 70%"... Buzz Over High Oil Price Relief Fund
- "It Has Now Crossed Borders": No Vaccine or Treatment as Bundibugyo Ebola Variant Spreads [Reading Science]
Doosan's own business performance shows an upward trend. The company stated that its own business results improved last year as sales of high-margin AI-related products produced by the Electronics Business Group (BG) increased. Its own business sales reached 1.3771 trillion KRW last year, a 23.2% increase compared to the previous year. Doosan's own business division is divided into four sectors: Electronics BG, Dutamall, Digital Innovation, and Fuel Cell Power. Among these, Electronics BG accounts for more than 50% of sales. Doosan said it will continue to structure its portfolio around high-margin products from Electronics BG this year as well.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
