Chairman Park Jeong-won of Doosan Group looks at a turbine motor being produced at a plant of Doosan Heavy Industries and Construction. (Photo: Doosan Group)

Doosan Corp., the holding company of Doosan Group, joined the “1 trillion won club” in operating profit for the third straight year.

Doosan Corp. chalked up 18.535.7 trillion won in sales and 1.261.9 trillion won in operating profit based on consolidated financial statement last year, the company said on Feb. 14.

The figures represent a 6.2 percent rise and a 7.3 percent increase over the previous year. The good performance was owed to the improving profitability of Doosan subsidiaries, including Doosan Bobcat and Doosan Infracore. In particular, it was influenced by Doosan E&C, which saw operating profit turn to a profit.

But Doosan E&C posted 551.8 billion in net losses by posting 500 billion won in one-off costs, such as an allowance for bad debts caused by the frozen construction industry since the second half of 2017.

Provisional figures showed that Doosan Corp. logged 2.834.9 trillion won in sales and 227.1 billion won in operating profit based on consolidated financial statement.

The company recorded a 6.5 percent rise in sales and a 9.7 percent surge in operating profit year-on-year on the back of rising businesses such as .copper clad laminate (CCL) and industrial vehicle (forklift).

Doosan Heavy Industries & Construction achieved 15.659.7 trillion won in sales and 1.076.9 trillion won in operating profit, a 6.1 percent rise and a 7.3 percent increase year-on-year, provisional figures showed.

Doosan Infracore bagged 8.185.8 trillion won in sales and 840.4 billion won in operating profit based on consolidated financial statement.

The company logged a 5.9 percent increase year-on-year on the back of the best-ever sales in construction machinery and engine businesses.

The company saw operating profit come in similar to the previous year’s best-ever performance.

Doosan Bobcat bagged $3.869 billion in sales and $417 million in operating profit. The figure is a 7.2 percent year-on-year surge on the back of booming sales in advanced countries.

But the company saw operating profit decline 1.9 percent year-on-year due to a rise in costs related to new product releases and raw materials costs.

The company logged 4.509.6 trillion won in sales, a 13.6 percent jump, and 477 billion won in operating profit, a 3.9 percent increase, on the back of the effects of the weak Korean currency.

Doosan E&C saw sales surge 15 percent to 1.781.9 trillion won in sales on the back of the overall rise in civil engineering and construction divisions and operating profit turning around to 81 billion won, a departure from the previous year’s 55.2 billion won in losses.

Doosan Fuel Cell and Doosan Solus, which were spun off last October, placed 2019 Q4 performances on the public notice. Doosan Fuel Cell posted 221.2 billion won in sales and 19.5 billion won in operating profit in 2019 Q4.

The company achieved 1.2 trillion won in annual order value, surpassing 1 trillion won in new orders for the second straight year.

Doosan Solus logged 70 billion won in sales and 10.2 billion won in operating profit in 2019 Q4. The company aims to achieve 334 billion won in sale this year, a 27 percent year-on-year jump, thanks to the mass production of copper coil slated for the second half of the year.