TYM announced on the 15th that its consolidated revenue for the first quarter of this year was 225.7 billion won and operating profit was 15.1 billion won. Compared to the same period last year, revenue increased by 1.1%, and operating profit rose by 41.1%.
TYM noted that strategic sales improvement and financial structure stabilization in the North American market are the main factors for its performance growth.
In particular, revenue in the North American market increased by 23.8%, from 109.8 billion won in the same period last year to 135.9 billion won this year. During the same period, sales in the North American tractor market decreased by 14.7%.
Additionally, TYM secured 36.5 billion won in cash liquidity compared to the same period last year by reducing tractor inventory and collecting accounts receivable. As a result, the liability ratio improved from 124.3% to 114.7%.
TYM plans to promote diversification of revenue sources into new markets such as Europe and Southeast Asia beyond North America.