Construction machinery company Doosan Bobcat reported sales of 8.55 trillion won and operating profit of 871.4 billion won for the last year on the 10th. These figures represent decreases of 12.4% and 37.2% compared to the same period last year. Sales for the fourth quarter were 2.14 trillion won, and operating profit was 181.5 billion won, which are decreases of 7.5% and 29.1%, respectively, from a year earlier.
By region, sales in Europe, the Middle East, and Africa (EMEA) and North America decreased by 21% and 17%, respectively, while sales in Asia, Latin America, and Oceania (ALAO) fell by 5%. Sales of small equipment declined by 15%, and revenue from the institutional sector for industrial vehicles and portable power decreased by 22% and 16%, respectively.
Doosan Bobcat projected expected sales of 8.448 trillion won and operating profit of 792 billion won for this year, both lower than last year's figures. Doosan Bobcat noted that "product demand is expected to continue to be deferred under high interest rates."