LS Mtron Reports Operating Profit of 20.8 Billion KRW in First Half, Returns to Profitability

LS Mtron's autonomous work tractor 'LS Smartrec' and the remote management service 'iTractor' that monitors the tractor's status in real-time remotely and delivers necessary maintenance information to users.
[Photo by LS Mtron]

[Asia Economy Reporter Kim Heung-soon] LS Mtron, specializing in industrial machinery and advanced component manufacturing, announced on the 18th that it recorded sales of 526.2 billion KRW and an operating profit of 20.8 billion KRW for the first half of this year on a consolidated basis. Compared to the same period last year, sales increased by 37.4%, and operating profit turned positive.

The tractor business, which LS Mtron focuses on, achieved sales growth of over 30% year-on-year in North America, the world's largest market. With increasing demand for small home-use tractors, it has already secured an order backlog of more than 10,000 units in North America alone. LS Mtron plans to operate its factory at maximum capacity until the first half of next year to deliver the products on time.

In the domestic market, LS Mtron explained that it improved collaboration efficiency between headquarters and over 120 regional dealerships through Sales Cloud and established a data-driven sales management system. It has also gained market attention by launching premium large products equipped with new features, such as the 'XP-AUTO MODE Tractor' and the 'T5·T6-DCT Tractor,' which enhance work convenience.

LS Mtron intends to contribute to the advancement of agriculture through the autonomous operation tractor 'LS Smartrec' and the remote management service 'iTractor,' which will be key growth drivers in the near future.

Another core product, injection molding machines, recorded double the sales growth in the North American market compared to the previous year. An electric model, 'the ONE-E,' is scheduled to be launched in the second half of this year. Additionally, in the electronic components business, LS Mtron added that it has been continuously expanding sales as its product quality has been recognized by major global companies.

An LS Mtron official said, "So far, we have focused on building a foundation for future growth in tractors, injection molding, and electronic components," adding, "Going forward, we will strengthen our digital capabilities by integrating big data and artificial intelligence (AI) technologies into traditional manufacturing sectors and provide differentiated value to customers."

This content was produced with the assistance of AI translation services.