On February 5, over 150 journalists, financial analysts and representatives of institutional investors met with Doosan Infracore officials at the Korea Exchange in Seoul to learn about the company’s 2006 performance results, 2007 plans and mid-term goals. According to estimates on a consolidated basis, 2006 sales exceeded W3.7 trillion (up 20% from 2005), while operating profit came to W315.6 billion (a 46% increase year on year), and ordinary income was W214.8 billion (22% higher than in the previous year). The consolidated performance goals are set at over W4.45 trillion in sales (20% annual growth) and W385.5 billion in operating profit (22% annual growth) in 2007. For the mid-term the company expects sales to exceed W9.64 trillion with operating profit of almost W1.15 trillion In 2011.
Sr. Managing Director Yang He-sun of the Financial Management Division explained that the company would continue to lower costs by hedging exchange rates and sourcing globally in order to meet 2007 goals.
Sr. Executive Managing Director Lee Jae-yoon 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 audience showed a great deal of interest in the presentation. Many questions were also asked about Doosan Infractore’s exchange rate risk management, planned acquisitions overseas, and other key issues.