Seoul, Korea / Neu-Isenburg, Germany, 2nd August 2019 – Premium tyre maker Hankook Tire announced the company’s financial results for Q2 2019 with consolidated global sales of KRW 1.74 trillion (1.33 billion Euro) and an operating profit of KRW 107.1 billion (81.8 million Euro).
Driven by global top-tier technology and premium product quality, sales of high inch tyres, starting at 18-inch, accounted for 54.9% of passenger car tyres, leading to a 2.8% increase compared to the same period last year and reinforcing Hankook’s premium brand image. The slowdown of the global automotive industry negatively affected the financial results.
Hankook Tire focuses on strengthening the company’s position as a premium brand. Therefore, the tyre-maker expands its presence in the North American market with stabilization of the U.S. Tennessee plant, increasing sales of high inch tyres, starting at 18-inch, in major markets, and enhancing its premium image by providing premium OE tyres and strengthening its product competitiveness. Hankook Tire also plans to diversify its OE portfolio to establish a stable growth structure and optimize its distribution strategies for each region.
Q2 2019 Consolidated Financial Result
(Unit: Billion KRW) | Q2 FY 2018 | Q1 FY 2019 | Q2 FY 2019 |
Sales | 1,705.3 | 1,642.4 | 1,741.8 |
Operating Profit | 185.2 | 140.6 | 107.1 |
(Unit: Million USD) | Q2 FY 2018 | Q1 FY 2019 | Q2 FY 2019 |
Sales | 1,581.1 | 1,459.8 | 1,493.9 |
Operating Profit | 171.7 | 125.0 | 91.9 |
(Unit: Million EUR) | Q2 FY 2018 | Q1 FY 2019 | Q2 FY 2019 |
Sales | 1,325.2 | 1,285.3 | 1,329.7 |
Operating Profit | 143.9 | 110.0 | 81.8 |
*Exchange Rates:
| Q2 FY 2018 | Q1 FY 2019 | Q2 FY 2019 |
USD / KRW | 1,078.57 | 1,125.08 | 1,165.91 |
EUR / KRW | 1,286.84 | 1,277.88 | 1,309.91 |