Doosan Infracore Chalks Up
Record High of W3.2 Bln in Sales

Holds the year's first IR session to explain its 2007 business plans

Doosan Infracore posted a record high of 3,282.8 billion won in sales and 255.4 billion won in operating profit during 2006, representing a 16.6 percent and a 46.3 percent surge over 2005, a public notice issued on Feb. 1 showed.
During 2006, ordinary profit and net profit came to 203.2 billion won and 144 billion won, a 13.4 percent jump and a 6.2 percent rise over 2005, respectively, according to the 2006 business performance estimates.
Doosan Infracore's annual general meeting, held on the same day, approved a dividend of 350 won per share.
During the first IR briefing for 2007, Doosan Infracore officials met with over 150 journalists, financial analysts and representatives of institutional investors at the Korea Exchange in Seoul on Feb. 5 to brief them about the company's 2006 performance results, 2007 plans and mid-term goals.
According to estimates on a consolidated basis, 2006 sales exceeded 3.7 trillion won, up 20 percent form 2005, while operating profit came to 315.6 billion won, a 46 percent jump year-on-year,
and ordinary income was 214.8 billion won, 22 percent higher than in the previous year. The consolidated performance goals are set over 4.45 trillion won in sales, a 20 percent annual growth and 385.5 billion won in operating profit, a 22 percent annual growth in 2007.
For the mid-term, the company expects sales to exceed 9.64 trillion won with operating profit of almost 1.15 trillion won in 2011.
Yang He-sun, managing director of the Financial Management Division at Doosan Infracore, said the company would continue to lower costs by hedging exchange rates and sourcing globally in order to meet 2007 goals.
Lee Jae-yoon, executive managing director of the Corporate Center, discussed the future. "The emerging markets of China, India, Brazil and Eastern Europe are expected to grow rapidly. We will respond by expanding output capacity at our existing plants in China and Europe. At the same time we will seek overseas acquisitions, form strategic alliances, and continue to develop new business lines as part of efforts to reach mid-term targets."The audiences showed a great deal of interest in the presentation. Many questions were also asked about Doosan Infracore's exchange rate risk management, planned acquisitions abroad, and other key issues.
Earlier, Managing Director Yang said a look into the 2006 business performances showed that continuous global strategies caused exports to surge 21 percent over 2006, contributing primarily to boosting sales, and operating profit jumped tanks to rising sales, hedging against exchange rate risks and innovative management activities.
In particular, sales in the construction equipment business topped the 1 trillion won mark for the first time in its corporate history, boosted by brisk sales of excavators in the Chinese area, arising from China's expanded SOC projects and a rise in exports to the U.S. area. Exports in the machine tool business to the U.S. area soared over 30 percent due to an expansion of the American market and brisk petroleum-related industries. nw

Doosan Infracore participates in IMHX 2007 in Birminghan, UK to publicize its brand. (Below photo) Doosan Infracore's fork lifts.