Press Release

Doosan Bobcat announced on May 15 that it had settled the fifth installment of $100 million of its borrowings in advance on May 14 (U.S. time). It borrowed $1.7 billion in 2014, of which it has so far repaid $520 million in five installments, including the most recent repayment. Due to the robustness of global markets and its bolstered product competitiveness, Doosan Bobcat has seen a steady increase in its performance, resulting in a dramatic improvement of its financial structure. With this early repayment, Doosan Bobcat is set to simultaneously reduce its interest costs and increase its net profits. Thanks to its robust performance, Doosan Bobcat has adjusted its refinancing interest rate, improved its credit rating, and lowered its American income tax, thus reporting an impressive 36 percent rise in its annual net profits since 2015. Doosan Bobcat reported sales of $812 million, an operating profit of $88 million, and a net profit of $58 million in Q1 2018, up 20.3 percent, 19.8 percent, and 60.6 percent, respectively, from the same period last year. “In recent years, we have made positive investments in a drive to boost sales, posted excellent sales figures, and secured a good cash flow, which has allowed us to complete the early repayment of our borrowings,” a Doosan Bobcat executive said, adding, “By unveiling new products and enhancing our productivity, we are determined to further strengthen our profit foundation in advanced markets and expand our product lineups to emerging markets such as India and China so as to further consolidate our position as a global leader in the small equipment markets.”