Seoul, Korea / Neu-Isenburg, Germany, February 7, 2017 – Hankook Tire announced its global financial results for the fourth quarter of 2016 with consolidated sales of KRW 1.61 trillion (1.295 billion Euro) and an operating profit of KRW 239.8 billion (192.2 million Euro). The company reported total sales revenues of KRW 6.62 trillion (5.163 billion Euro) and an operating profit of KRW 1.10 trillion (860.1 million Euro) for the total fiscal year 2016.
Hankook Tire’s achievement is attributed to continuous OE supply for models of global premium automobile brands based on Hankook Tire’s global top tier technology and product quality. An increased sales volume in the Replacement Tyre (RE) segment, especially in the Ultra High Performance Tyre (UHPT) segment including sales of winter tyres in Europe added up to a consistent upward trend. Furthermore, Hankook Tire managed to secure balanced growth through also increasing OE sales in the Chinese market.
Especially, revenue from UHPT sales accounted for 33.5% of the total sales in the fourth quarter, marking a 0.7% increase in comparison to the same period of last year. With regard to 2016’s total sales, the sales revenue of UHPT comes to 34.5%.
With this year’s goal of reaching global sales revenues of KRW 7.22 trillion, Hankook Tire plans to focus on expanding sales in the UHPT segment as well as in the OE segment for new premium car models in order to strengthen its brand value. Moreover, the company will further enhance its presence in the global market through diversifying the OE portfolio and optimizing each regional distribution strategy.
As a premium brand that provides the opportunity of high-technology experience based on an innovative corporate culture, Hankook Tire will also continue to accelerate its business growth and to strengthen its leadership in technology through a working environment that fosters innovation power and creativity.
Q4 2016 Consolidated Financial Result
(Unit: Billion KRW) | Q4 FY 2015 | Q3 FY 2016 | Q4 FY 2016 |
Sales | 1,596.5 | 1,657.6 | 1,615.0 |
Operating Profit | 239.1 | 302.6 | 239.8 |
(Unit: Million USD) | Q4 FY 2015 | Q3 FY 2016 | Q4 FY 2016 |
Sales | 1,379 | 1,478.1 | 1,395.4 |
Operating Profit | 206.5 | 269.8 | 207.1 |
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(Unit: Million EUR) | Q4 FY 2015 | Q3 FY 2016 | Q4 FY 2016 |
Sales | 1,259.5 | 1,324.9 | 1,295.0 |
Operating Profit | 188.6 | 241.8 | 192.2 |
*Exchange Rates:
| Q4 FY 2015 | Q3 FY 2016 | Q4 FY 2016 |
USD / KRW | 1,157.69 | 1,121.37 | 1,157.37 |
EUR / KRW | 1,267.57 | 1,251.04 | 1,247.02 |
2016 Consolidated Financial Result
(Unit: Billion KRW) | FY 2015 | FY 2016 |
Sales | 6,428.2 | 6,626.1 |
Operating Profit | 885.0 | 1,103.8 |
(Unit: Million USD) | FY 2015 | FY 2016 |
Sales | 5,681.1 | 5,709.6 |
Operating Profit | 782.1. | 951.1 |
(Unit: Million EUR) | FY 2015 | FY 2016 |
Sales | 5,121.4 | 5,163.3 |
Operating Profit | 705.0 | 860.1 |
*Exchange Rates:
| FY 2015 | FY 2016 |
USD / KRW | 1,131.49 | 1,160.50 |
EUR / KRW | 1,255.16 | 1,283.30 |
(NOTE: Average exchange rates for the given annual period, retrieved from Korea Exchange Bank)
