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Hankook Tire Reports Financial Results for the Third Quarter of 2016

Hankook Tire achieved sales revenues of KRW 1.657 trillion and an operating profit of KRW 297.1 billion in the third quarter of 2016.
Hankook Tire Reports Financial Results for the Third Quarter of 2016

Seoul, Korea / Neu-Isenburg, Germany, November 4, 2016 – Premium Tyre maker Hankook announced its financial results for the third quarter of 2016 with global sales revenue of KRW 1.657 trillion and an operating profit of KRW 297.1 billion, which increased 23% compared to the same period of last year.

Despite a smaller demand in the global market, positive sales in the UHPT (Ultra High Performance Tyre) segment and the premium OET (Original Equipment Tyre) helped achieve the financial results, especially in Europe and China markets. Hankook Tire managed to secure stable sales results contributed by RET (Replacement Tyre) as well.

Notably, revenue from UHPT sales resulted in a consistently upward trend, accounting for 34.2% of the company’s total sales led by Hankook Tire’s continual technology leadership. The company has proven to be a premium brand in the global market by further extending its OET supply portfolio in the TBR segment (Truck and Bus Radial). Just recently, Hankook Tire has announced that, following Daimler AG and MAN supply, it became Original Equipment supplier for Scania in Europe as well.

Hankook Tire plans to further strengthen its brand portfolio through a multi brand strategy to satisfy various customers’ needs around the globe, while implementing innovative technological leadership through the new global R&D center, Hankook Technodome, which recently opened on October 18, 2016.

 

 

Q3 2016 Consolidated Financial Result 

 

(Unit: Billion KRW)

Q3 FY 2015

Q2 FY 2016

Q3 FY 2016

Sales

1,725.3

1,727.4

1,657.6

Operating Profit

241.7

310.3

297.1

 

(Unit: Million USD)

Q3 FY 2015

Q2 FY 2016

Q3 FY 2016

Sales

1,477.3

1,484.9

1,478.1

Operating Profit

206.9

266.7

264.9

 

 

 

 

(Unit: Million EUR)

Q3 FY 2015

Q2 FY 2016

Q3 FY 2016

Sales

1,328.6

1,315.4

1,324.9

Operating Profit

186.1

236.2

237.4

 

*Exchange Rates:

 

Q3 FY 2015

Q2 FY 2016

Q3 FY 2016

USD / KRW

1,167.80

1,163.30

1,121.37

EUR / KRW

1,298.59

1,313.26

1,251.04

(NOTE: Average exchange rates for the given annual period, retrieved from Korea Exchange Bank)

Hankook Tire manufactures globally innovative, award-winning radial tyres of proven superior quality for passenger cars, light trucks, SUVs, RVs, trucks, and buses as well as motorsports (circuit racing/street circuits/rallies).

Aspiring to bring consumers the utmost excellence in product quality, technological excellence and driving satisfaction, Hankook Tire continuously invests in research and development maintaining five R&D centres and eight production facilities around the world. Bespoke tyre solutions for the European markets as well as European Original Equipment according to the requirements of leading premium car manufacturers, are developed in the company’s regional Technical Centre in Hanover/Germany. Production for the European region is taking place in the state-of-the-art manufacturing site in Rácalmás/Hungary which was inaugurated in June 2007 and is continuously being expanded.

Hankook Tire’s European headquarters are located in Neu-Isenburg near Frankfurt am Main in Germany. The manufacturer operates further branches in several European countries and sells its products through regional distributors in other local markets. Hankook Tire employs approximately 20,000 people worldwide and sells products in over 160 countries. The company has been the technical partner and exclusive tyre supplier of the Generation 3 for the FIA ABB Formula E World Championship since 2023. Internationally leading car manufacturers rely on tyres made by Hankook for their original equipment. Approximately 38 percent of the company's global sales are generated within the European region.

For more information please visit www.hankooktire-mediacenter.com or www.hankooktire.com

Hankook Tire Europe GmbH | Marketing Communications Europe | Siemensstr. 14, 63263 Neu-Isenburg | Germany

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Sabine Riedel

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 +49 (0) 6102 8149-178

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Digital Marketing Communications

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