Press Release

  • Corporate

Hankook Tire Reports Financial Results for the First Quarter of 2017

Hankook Tire announced global sales revenues of KRW 1.639 trillion in sales. Ultra High Performance Tire (UHPT) sales accounted for 36.7% of total sales, marking a 1.4% increase in comparison to the same period last year. The company will continue to strengthen its premium brand value by expanding sales of UHPT and larger size tires starting from 17-inch.

Seoul, Korea / Neu-Isenburg, Germany, May 03, 2017 – Hankook Tire announced its global financial results for the first quarter of 2017 with consolidated sales of KRW 1.639 trillion (1.333 billion Euro) and an operating profit of KRW 231 billion (187.88 million Euro). This positive growth is mainly attributed to the impressive sales performance of Ultra High Performance Tires (UHPT) and an overall sales increase across different regions.

Sales of UHPT grew by 1.4 percent year-on-year, accounting for 36.7 percent of total sales generated during the first quarter. In particular, UHPT sales showed an 11 percent and a 26 percent year-on-year increase in Europe and China, respectively. This significant sales growth in both regions was mainly driven by the increased supply of original equipment tires (OET) and the continued strong sales of replacement tires (RET).

The company is planning to expand sales of UHPT and larger size tires starting from 17-inch, as future demand is expected to increase. All in all, while continuing to promote its global brand value and technology leadership, Hankook Tire will sharpen its competitive edge in premium tires.

 

  Q1 2017 Consolidated Financial Result 

(Unit: Billion KRW)

Q1 FY 2016

Q4 FY 2016

Q1 FY 2017

Sales

 1,626.0

 1,610.6

 1,639.2

Operating Profit

251.1

239.2

231.0

 

(Unit: Million USD)

Q1 FY 2016

Q4 FY 2016

Q1 FY 2017

Sales

1,353.4

1,395.4

1,420.11

Operating Profit

209.0

207.1

200.12

 

(Unit: Million EUR)

Q1 FY 2016

Q4 FY 2016

Q1 FY 2017

Sales

1,227.3

1,295.0

1,333.18

Operating Profit

189.5

192.2

187.88

 

*Exchange Rates

 

Q1 FY 2016

Q4 FY 2016

Q1 FY 2017

USD / KRW

1,201.44

1,157.37

1,154.28

EUR / KRW

1,324.87

1,247.02

1,229.54

 

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

Hankook Tire is one of the global top 5 companies in the mass production of tyres and manufactures 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/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 seven 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. Currently more than 3,000 employees produce up to 19 million tyres a year for passenger cars, SUVs and light trucks.

Hankook Tire’s European headquarters are located in Neu-Isenburg near Frankfurt am Main in Germany. The manufacturer operates further branches in Germany, UK, France, Italy, Spain, the Netherlands, Hungary, Czech Republic, Russia, Turkey, Sweden and Poland. Hankook products are sold directly through regional distributors in other local markets. Hankook Tire employs more than 22,000 people worldwide and are selling their products in over 180 countries. Internationally leading car manufacturers rely on tyres made by Hankook for their original equipment. Approximately 30 percent of the company's global sales are generated within the European and CIS-Region.

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


Hankook Tire Europe GmbH | Corporate Communications Europe/CIS | Siemensstr. 5a, 63263 Neu-Isenburg | Germany

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Contacts

Felix Kinzer

Fon: +49 (0) 6102 8149-170

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Anna Pasternak

Fon: +49 (0) 6102 8149-173

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Sabine Riedel

Fon: +49 (0) 6102 8149-174

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Larissa Büsch

Fon: +49 (0) 6102 8149-171

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Yara Willems

Fon: +49 (0) 6102 8149-172

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