Press Release

  • Corporate

Hankook Tire Reports Financial Results for the Third Quarter of 2017

Hankook Tire achieves global sales revenue of KRW 1.824 trillion and an operating profit of KRW 214.1 billion in the third quarter of 2017. Financial results were driven by the increased sales of Ultra High Performance Tyres (UHPT) in Europe and China.

Seoul, Korea / Neu-Isenburg, Germany, November 6, 2017 – Premium tyre maker Hankook announced its financial results for the third quarter of 2017 with global sales of KRW 1.824 trillion (1.371 billion Euro) and an operating profit of KRW 214.1 billion (161 million Euro).

Compared to the second quarter of 2017, sales and operating profit increased by 9.5 per cent and 4.6 per cent respectively. In comparison to the third quarter of 2016, sales increased by 10.1 per cent and operating profit decreased by 29.2 per cent.

The increase in sales is attributed to the stable sales of Ultra High Performance Tyres (UHPT) and increased sales of winter tyres in Europe. Moreover, a strong increase in sales in the UHPT-segment and an expanded supply of premium original equipment tyres (OET) in the Chinese market drove the sales growth. Sales in emerging markets in the ASEAN region, such as Indonesia, also contributed to the increase in sales.

 

 

Q3 2017 Consolidated Financial Result

(Unit: Billion KRW)

Q3 FY 2016

Q2 FY 2017

Q3 FY 2017

Sales

1,657.6

1,666.9

1,824.5

Operating Profit

302.6

204.6

214.1

 

(Unit: Million USD)

Q3 FY 2016

Q2 FY 2017

Q3 FY 2017

Sales

1,478.1

1,475.8

1,611.4

Operating Profit

264.9

180.4

189.1

 

(Unit: Million EUR)

Q3 FY 2016

Q2 FY 2017

Q3 FY 2017

Sales

1,324.9

1,341.1

1,371.6

Operating Profit

237.4

163.9

161

 

*Exchange Rates

 

Q3 FY 2016

Q2 FY 2017

Q3 FY 2017

USD / KRW

1,121.37

1,129.43

1,132.24

EUR / KRW

1,251.04

1,242.84

1,330.20

(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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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

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Yara Willems

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Fabian Kühn

Fon: +49 (0) 6102 8149-175

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