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Photo = Yonhap news |
[Alpha Biz= Kim Jisun] Doosan Bobcat announced that its operating profit for the first quarter of 2025 reached KRW 200 billion, marking a 38.6% decrease compared to the same period last year. The company’s revenue totaled KRW 2.0 trillion, a 12.4% decline year-over-year, while net profit fell 47.7% to KRW 113.4 billion.
Despite the seasonal effects leading to a slight 2% decrease in sales compared to the previous quarter, the company saw an 11% increase in operating profit, driven by logistics cost reductions and price increases. This marks a second consecutive quarter of improvement in operating profit since the low point in the third quarter of last year.
On a US dollar basis, Doosan Bobcat reported a 20% decrease in revenue and a 44% decrease in operating profit compared to the same period last year.
The company explained that demand has slowed due to economic uncertainties and recession concerns, with declines in all product categories and regions averaging around 20%. North American sales dropped 22%, while markets in Europe, the Middle East, and Africa, as well as Asia, Latin America, and Oceania, each saw a 21% decrease. By product, sales of compact equipment and portable power dropped 22%, while industrial vehicles fell by 20%.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
