대동 DAEDONG

-. Q2 2026 revenue hit a quarterly record of KRW 467.1 billion, with operating profit of KRW 41.2 billion and an operating profit margin of 8.8%.

 

-. Daedong is strengthening its tractor and CCE product mix and dealer competitiveness in North America, while reinforcing its market position in Europe and Korea.

 

-. H1 2026 parts sales rose 20% year on year, while a connected platform is strengthening recurring revenue after equipment sales.

 

Despite a downturn in the global agricultural machinery market, Daedong posted record consolidated revenue for both Q2 2026 and H1 2026.

 

Daedong (Co-CEOs Kim Jun-Sik and Won Yu-Hyun), a leader in future agriculture, announced on August 10, 2026, that its preliminary consolidated results for H1 2026 showed revenue of KRW 844.8 billion and operating profit of KRW 47.3 billion. Revenue rose 5.4% and operating profit increased 0.9% year on year.

 

H1 2026 revenue set a new all-time high, surpassing the previous record of KRW 835.8 billion in H1 2023 by about 1.1%. In particular, Q2 2026 revenue increased 12.7% year on year to KRW 467.1 billion, while operating profit rose 64.3% to KRW 41.2 billion. Quarterly revenue was about 2.1% higher than the previous quarterly record of KRW 457.3 billion set in Q2 2022. The Q2 2026 operating profit margin was 8.8%, and net profit reached KRW 21.4 billion, swinging to a profit from a net loss in Q1 2026. Improved profitability in Q2 2026 also lifted H1 2026 operating profit above the level recorded a year earlier.

 

 

These results are particularly significant given that agricultural machinery markets in North America and Korea, Daedong’s key markets, contracted year on year, while the European market grew just 0.7%. In H1 2026, the North American agricultural machinery market shrank 13% year on year and the Korean market declined 3.4%. Daedong nevertheless continued to grow revenue by making its products more competitive in each region and strengthening its distribution channels.

 

In North America, Daedong is building on its strength in compact tractors to expand its portfolio into mid- and large-sized tractors and compact construction equipment (CCE), including skid steer loaders and mini excavators, while strengthening its logistics and dealer networks to support this expansion. In Q3 2025, it opened an integrated logistics warehouse covering about 8,900 pyeong in Tacoma, Washington, in the United States, expanding its business coverage from a focus on the eastern region to all of North America. It added 30 dealerships, bringing its total network to 600 locations. Dealers added over the past two years accounted for 13% of Daedong-USA, Inc.’s H1 2026 revenue, demonstrating that channel expansion is translating into a stronger sales base.

 

An improved product mix also delivered results. North American unit sales of the HX model and compact construction equipment rose 55% and 28% year on year, respectively, in H1 2026. The HX model is a flagship offering in the high-value-added mid- and large-sized tractor segment. By adding mid- and large-sized tractors and compact construction equipment to its established compact tractor business, Daedong is expanding its presence in North America as a comprehensive agricultural machinery and equipment brand.

 

Growth in Europe and Korea also contributed to the results. In Europe, a stronger market push centered on mid- and large-sized tractors helped DAEDONG KIOTI Europe B.V. increase H1 2026 revenue by about 31% year on year to approximately KRW 74.1 billion. Market share also rose 0.2 percentage points year on year to 2.5%. Daedong plans to further strengthen its position in the mid- and large-sized tractor market while expanding integration with precision agriculture solutions to gain a distinct competitive edge by combining products with agricultural solutions.

 

In Korea, Daedong is also strengthening its sales and service channels in line with the launch of its AI tractor and the expansion of precision agriculture services. A sales policy focused on end-user demand, together with the growing impact of a distribution-channel overhaul centered on regional dealerships that began last year, lifted its Korean market share into the 40% range. The regional dealership network, which had grown to 18 locations as of H1 2026, is boosting regional sales and customer service capabilities, helping further consolidate Daedong’s No. 1 position in Korea.

 

The parts business also grew as a source of recurring revenue after equipment sales. H1 2026 parts sales increased about 20% year on year to KRW 56.7 billion. In Korea, Daedong has introduced Service Master centers to provide differentiated service. In Europe, it offers a free warranty program covering all tractor models, while in North America, it offers extended warranty products. The company is also using its connected platform to expand touchpoints with equipment and customers, strengthening the foundation for recurring revenue from parts and services.