Doosan Bobcat (241560) Q2 2025 earnings summary

Executive summary

• Revenue declined 3.8% year-over-year to $1,567M due to inventory adjustments and economic slowdown in Europe.

• Operating profit dropped 16% year-over-year, impacted by lower sales, tariffs, and increased promotions.

• Net profit decreased 24% year-over-year, primarily from reduced operating profit.

Financial highlights

• Revenue: $1,567M, down 3.8% YoY, up 8.5% sequentially.

• EBIT: $145M, down 16.3% YoY, up 5.6% sequentially; EBIT margin at 9.3%.

• EBITDA: $185M, down 12.7% YoY, up 2.8% sequentially.

• Net profit: $87M, down 24.3% YoY, up 11% sequentially; net margin at 5.5%.

Outlook and guidance

• Tariff uncertainty expected to persist into Q3 and impact 2H 2025.

• Economic uncertainties and delayed recovery in Europe may continue to affect demand.

• Demand for portable power expected to remain at prior year levels.