Daedong Reports Q1 Operating Profit of 21.7 Billion KRW, Up 87.7% Year-on-Year

Consolidated Sales Reach 386.8 Billion KRW
Overseas Revenue Rises, North American Market Share Hits 10.8%

Daedong, an agricultural company, announced on May 16 that its consolidated results for the first quarter of this year recorded sales of 386.8 billion KRW and operating profit of 21.7 billion KRW. Despite a downturn in both domestic and overseas agricultural machinery markets at the beginning of the year, first-quarter sales and operating profit grew by 6.7% and 87.7%, respectively, compared to the same period last year, demonstrating solid growth.

This improvement in performance was mainly driven by the expansion of sales networks and product diversification strategies in key overseas markets such as North America and Europe. The North American subsidiary achieved a market share (M/S) of 10.8% in the first quarter, demonstrating its competitiveness through locally tailored promotions. In the European market, market share increased by 0.5 percentage points year-on-year to reach 2.1%, further strengthening its foothold.

Daedong is continuing its aggressive overseas market expansion in the second quarter as well. In North America, the company plans to solidify a market share of at least 10% through dealer network expansion and region-specific promotions. In Europe, Daedong will strengthen its product lineup by supplying new small-to-medium and medium-to-large tractors starting in June, alongside recruiting new dealers. In new markets such as T?rkiye and Ukraine, the company has begun full-scale efforts to stabilize its presence, aiming to establish a solid foundation for mid- to long-term growth.

In the domestic market, Daedong has officially launched precision agriculture solutions and transport robots, signaling a full-scale entry into future business sectors. Since March, the company has been holding customer experience events for transport robots at 61 Daedong dealerships nationwide, and has released combined products integrating precision agriculture, transport robots, and autonomous agricultural machinery. Through these aggressive sales and marketing efforts, Daedong aims to secure future business revenue starting from the second quarter and lead the domestic AI agriculture market. In addition, the company plans to actively seize and pursue business growth opportunities in line with the government's and local governments' efforts to promote smart agriculture.

Daedong CEO Yoonhyun Won stated, "Despite the global economic downturn, interest rate uncertainties, and tariff risks in North America, Daedong is generating stable results through strategic and effective market responses. This year, we will establish precision agriculture, autonomous tractors, and transport robots in the domestic market, and embark on overseas pilot projects to further solidify the foundation for future business growth."