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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] Doosan Bobcat, a manufacturer of compact construction equipment, reported a 58% year-over-year decrease in operating profit for Q3 (July to September).
In a regulatory filing on October 28, Doosan Bobcat announced preliminary results for the third quarter, with revenue totaling 1.7777 trillion KRW and operating profit at 125.7 billion KRW. This represents a 24.9% decline in revenue and a 57.8% decline in operating profit compared to the same period last year. The downturn is attributed to reduced production due to a global construction market slowdown and the burden of fixed costs.
By product category, compact equipment saw a 30% decline, industrial vehicles a 22% drop, and portable power (mobile generators) a 17% decrease, all compared to last year. Regionally, North America fell by 29%, Europe, Middle East, and Africa by 28%, and Asia, Latin America, and Oceania by 16%.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
