LVMC Holdings Posts Q2 Operating Profit of 7.7 Billion KRW, Up 67% Year-on-Year

LVMC Holdings continued its strong performance in the second quarter of this year, once again achieving double-digit growth.

According to the earnings report released on the 29th, LVMC Holdings’ consolidated sales for the second quarter of this year reached 99.4 billion KRW, marking a 58.49% increase compared to the same period last year. Operating profit was 7.7 billion KRW, and net profit was 1.6 billion KRW, up 66.55% and 152.55% year-on-year, respectively. For the first half of the year, cumulative sales reached 203.3 billion KRW and operating profit was 18.6 billion KRW, representing increases of 49.85% and 142.18% compared to the same period last year, continuing a meaningful improvement in results.

This strong performance is attributed to increased sales in key markets such as Vietnam, Laos, and Myanmar. In the second quarter, a total of 4,417 units were sold, a 51.47% increase from 2,916 units in the same period last year. Looking at the sales growth rate by country in the second quarter, Laos saw a 49.86% increase, Vietnam 50.69%, Myanmar 182.93%, and Cambodia also grew by 13.33%, showing overall strong performance across all countries.

Having already achieved a turnaround last year, the company is evaluated as having maintained this momentum stably this year, continuing a structural trend of both external growth and improved profitability in the first half.

Among these, the Vietnam subsidiary, Daihan Motors, achieved its highest-ever quarterly results. According to a company representative, product strategies tailored to local demand, improved production efficiency, and enhanced brand trust are cited as the drivers of this growth. In particular, core models such as minivans and mini trucks have maintained the second-largest market share, and the company is also working to expand production capacity to meet growing demand.

In addition, new model launches are scheduled for each country in the second half of the year. In Vietnam, the company plans to introduce the 'FEIDI 2.5T,' a diesel commercial vehicle based on an ISUZU engine; in Laos, the Kia 'Sonet'; and in Myanmar, Hyundai’s MPV (Multi-Purpose Vehicle) 'CUSTIN.'

A company representative explained, "In particular, the 'CUSTIN' in the Myanmar market is expected to contribute to improved profit margins by targeting high-end MPV demand among upper-middle-class individual customers and tourism industry B2B clients, thanks to its reasonable price and premium features. In addition, the new models to be launched in Laos and Vietnam will further strengthen the portfolio by adding various segments such as compact SUVs and commercial vehicles, enabling the company to capture both B2C and B2B demand."

Meanwhile, in Laos, new businesses in retail and mobility are also being stably developed alongside the existing automotive business. In the second half of the year, the opening of No Brand stores 3, 4, and 5, as well as the large-scale shopping mall 'Kokkok Mega Mall,' is scheduled. The ride-hailing platform 'Kokkok Move' of Laos Smart Mobility (LSM) is further expanding its service base by introducing the new 'sweety' ultra-compact electric vehicles for 2-4 passengers.

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