Daedong Reports Q1 2025 Operating Profit of KRW 21.7 Billion... Up 87.7% Year-on-Year
Daedong Reports Q1 2025 Operating Profit of KRW 21.7 Billion... Up 87.7% Year-on-Year
- Daedong announces Q1 consolidated results... Sales of KRW 386.8 billion and operating profit of KRW 21.7 billion
- Overseas sales increased due to expanded sales channels and diversification of products and markets, achieving a 10.8% market share in North America in Q1
- Future businesses such as precision agriculture and transport robots to be fully launched this year, with results reflected from Q2
Daedong, a leader and pioneer in future agriculture and the holding company of Daedong Group (co-CEOs Kim Jun-sik and Won Yu-hyun), announced on the May 16 that its consolidated sales for the first quarter of 2025 reached KRW 386.8 billion, with operating profit of KRW 21.7 billion. Despite a sluggish agricultural machinery market at home and abroad early this year, both sales and operating profit in the first quarter increased by 6.7% and 87.7% year-on-year, respectively, showing solid growth.
Sales and profit were driven primarily by the expansion of sales networks and diversification of product lines in major overseas markets such as North America and Europe. The company’s North American subsidiary demonstrated its competitiveness by achieving a 10.8% market share in Q1, thanks to locally tailored promotions. In the European market, Daedong grew its presence, with market share rising 0.5 percentage points year-on-year to reach 2.1%.
The company will continue its aggressive push into overseas markets in the second quarter. In North America, Daedong plans to solidify a market share of at least 10% through dealer network expansion and region-specific promotions. In Europe, the company is looking to strengthen its product lineup by bringing on new dealers and launching new small-to-medium and medium-to-large tractors starting in June. Furthermore, Daedong will equip major export models for North America and Europe with telematics (TMS), aiming to enhance product competitiveness and maximize sales by strengthening Connect-based parts and service offerings. In new markets such as Türkiye and Ukraine, Daedong is embarking on full-scale market stabilization efforts to firmly establish a foundation for mid- to long-term growth.
Meanwhile, in the Korean market, Daedong has officially launched precision agriculture solutions and transport robots, marking the full-scale rollout of its future business initiatives. Since March, Daedong has been holding customer experience events for transport robots at 61 dealerships nationwide and has introduced combined offerings that integrate precision agriculture, transport robots, and autonomous farming machinery. Through this aggressive sales and marketing strategy, Daedong aims to secure future business revenue starting in the second quarter and lead Korea's AI agriculture market. In addition, the company plans to actively seize and target growth opportunities in line with the government and local governments’ efforts to expand smart agriculture.