Doosan Bobcat's 2024 Operating Profit Down 21% Year-on-Year...Hit by Market Downturn and Tariffs

by Lee Myeonghwan

Published 11 Feb.2026 18:09(KST)

Doosan Bobcat posted somewhat sluggish results last year due to the construction market downturn and tariff-related uncertainties.

Doosan Bobcat announced on the 11th that, on a consolidated basis, its operating profit last year was tentatively estimated at 686.1 billion won, down 21% from the previous year. During the same period, revenue came in at 8.7919 trillion won, up 3% year-on-year.

Doosan Bobcat Corporate Identity.

Looking at revenue by region in dollar terms, the North American market declined 3% year-on-year due to weaker demand stemming from tariff uncertainties. Asia, Latin America, and Oceania (ALAO) fell 13% as a result of weaker domestic demand, while Europe, the Middle East, and Africa (EMEA) increased 1%, effectively remaining at the previous year's level.

By product category, sales of compact equipment and industrial vehicles decreased by 2% and 9%, respectively, while portable power posted modest growth of 1%.

At the end of last year, net cash stood at 353 million dollars, marking the fifth consecutive quarter of a net cash position, and the debt ratio was 70.8%.

Meanwhile, the board of directors of Doosan Bobcat resolved on this day to pay a year-end dividend of 500 won per share. The total annual dividend and shareholder return ratio for last year were set at 1,700 won and 40.4%, respectively. Doosan Bobcat explained that, despite the market slowdown, it increased the dividend to a record high and fulfilled its commitment announced in last year's corporate value enhancement plan to provide a "minimum dividend of 1,600 won and a shareholder return ratio of 40% of consolidated net income."

For its full-year outlook for this year, Doosan Bobcat projected revenue of 6.45 billion dollars, up 4.3% from the previous year, and operating profit of 482 million dollars, remaining at a similar level to last year.

A Doosan Bobcat official said, "Although we expect demand in major markets to decline slightly, we will seek to increase sales by replenishing dealer inventories and expanding our market share."