Press Release

  • Corporate

Hankook Tire Announces Second Quarter 2017 Financial Results

Hankook Tire achieves global sales revenues of KRW 1.667 trillion and an operating profit of KRW 203.7 billion in the second quarter of 2017. Sales of Ultra High Performance Tires (UHPT) with global top tier technologies increased. UHPT sales accounted for 36.9% of total sales, marking a 1.7% increase in comparison to the same period last year.

Seoul, Korea / Neu-Isenburg, Germany, August 9, 2017 – Premium tyre maker Hankook reported its financial results for the second quarter of 2017 with global sales of KRW 1.667 trillion (1.341 billion Euro) and an operating profit of KRW 203.7 billion (163.9 million Euro).

Hankook Tire’s 2Q sales increased by 1.7 per cent compared to the previous quarter, while its operating profit decreased by 12.3 per cent. Compared with the same period last year, overall sales and operating profit decreased by 3.5 per cent and 34.4 per cent respectively. The decline in operating profit is mainly due to the increased price of raw materials.

In contrast, Hankook Tire’s quarter-on-quarter sales revenue increased, with growth outpacing the market. Sales in the Ultra High Performance Tire (UHPT) segment have also continuously grown. UHPT sales ratio increased by 1.7 per cent, accounting for 36.9 per cent of total sales generated during the second quarter. Hankook Tire is planning to expand the UHPT segments and respond flexibly to the changes in the automobile industry.

 

 

Q2 2017 Consolidated Financial Result

(Unit: Billion KRW)

Q2 FY 2016

Q1 FY 2017

Q2 FY 2017

Sales

1,727.4

1,639.2

1,666.8

Operating Profit

310.3

232.2

203.7

 

(Unit: Million USD)

Q2 FY 2016

Q1 FY 2017

Q2 FY 2017

Sales

1,484.9

1,420.1

1,475.8

Operating Profit

266.7

201.2

180.4

 

(Unit: Million EUR)

Q2 FY 2016

Q1 FY 2017

Q2 FY 2017

Sales

1,315.4

1,333.2

1,341.1

Operating Profit

236.3

188.9

163.9

 

*Exchange Rates

 

Q2 FY 2016

Q1 FY 2017

Q2 FY 2017

USD / KRW

1,163.30

1,154.28

1,129.43

EUR / KRW

1,313.26

1,229.54

1,242.84

(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 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. 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. 14, 63263 Neu-Isenburg | Germany

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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

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Fabian Kühn

Fon: +49 (0) 6102 8149-175

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