Daeyu, Record Quarterly Performance Since Founding After Management Change

Sales of 12.5 Billion KRW and Operating Profit of 4.6 Billion KRW... Accelerating Growth Based on Q1 Foundation

[Asia Economy Reporter Hyungsoo Park] Daeyu, a manufacturer of compound fertilizers and other chemical fertilizers, achieved operating profits in the first quarter of this year that exceeded the entire operating profit of last year. Since the change in management rights, Daeyu has been striving to secure growth potential and improve profitability, and plans to continue its record-breaking performance starting from the first quarter of this year.

Daeyu announced on the 13th that it recorded sales of 12.5 billion KRW and operating profit of 4.6 billion KRW in the first quarter of this year. Compared to the same period last year, sales increased by 8.3% and operating profit rose by 18.3%. The scale of operating profit in the first quarter is the largest since the company was founded in 1977.

A Daeyu official predicted, "Even considering the seasonal factor where sales are concentrated in the first half of the year due to the characteristics of the fertilizer industry, operating profit is expected to surge compared to last year."

He added, "Sales volume increased for the majority of the approximately 1,200 product items," explaining, "Sales of the representative compound fertilizer product, the Nargen series, increased by 21.4% compared to the first quarter of last year, and the Mirigeun series also rose by 15.3%." Sales of organic agricultural materials for pest and disease control, the Chongjinsak series and the Chungsatan series, also increased by 4502.7% and 17.7%, respectively.

Daeyu attributed this to the effect of YouTube. An official said, "We reorganized the existing sales organization into a sales headquarters system to strengthen organizational capability and implemented consumer-friendly policies through institutional improvements in the sales division," adding, "We also activated our YouTube channel, which helped products like Chongjinsak gain word-of-mouth popularity among consumers."