Press Release

  • Corporate

Hankook Tire Announces Financial Results for the Third Quarter of 2018

For the third quarter of 2018 Hankook Tire reports KRW 1.76 trillion in sales and KRW 184.6 billion in operating profit. High inch tyres (over 17 inch) accounted for 52% of total sales. This marks a 4.5% increase compared to the same period last year, strengthening both Hankook’s premium products and brand image.

Seoul, Korea / Neu-Isenburg, Germany, October 30, 2018 – Premium tyre maker Hankook Tire announced the company’s 2018 Q3 financial result with consolidated global sales of KRW 1.76 trillion (1.35 billion Euro) and an operating profit of KRW 184.6 billion (141.5 million Euro).

Based on Hankook Tire’s global top-tier technology and premium product quality, sales of high inch tyres (over 17 inches) accounted for 52% of all passenger car tyres, leading to a 4.5% increase compared to the same period last year and reinforcing Hankook’s premium brand image.

Sales of replacement tyres have increased in the third quarter of 2018 compared to the same period last year due to stable qualitative and quantitative growth driven by the steady sales of high inch tyres in Europe, Korea and China.

Operating profit decreased by 15% compared to the same period last year due to the slight decrease in supply of original equipment tyres driven by the slowdown of demand in the automobile market and the initial operation cost of the Tennessee plant in the U.S..

Hankook Tire plans to focus on strengthening the company’s position as a premium brand by improving competitiveness in premium product lines and expanding sales of high inch tyres which are expected to see stable growth in demand. Hankook Tire also plans to accelerate towards becoming global top-tier company by strengthening its global distribution network and downstream distribution through innovation.

Q3 2018 Consolidated Financial Result

(Unit: Billion KRW)

Q3 FY 2017

Q2 FY 2018

Q3 FY 2018

Sales

1,824.50

1,705.40

1,755.70

Operating Profit

217.10

185.30

184.60

 

(Unit: Million USD)

Q3 FY 2017

Q2 FY 2018

Q3 FY 2018

Sales

1,611.41

1,581.17

1,565.37

Operating Profit

191.74

171.80

164.59

 

(Unit: Million EUR)

Q3 FY 2017

Q2 FY 2018

Q3 FY 2018

Sales

1,371.60

1,325.26

1,346.14

Operating Profit

163.21

144.00

141.54

 

*Exchange Rates:

 

Q3 FY 2017

Q2 FY 2018

Q3 FY 2018

USD / KRW

1,132.24

1,078.57

1,121.59

EUR / KRW

1,330.20

1,286.84

1,304.25

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/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 around 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 Czech Republic, France, Germany, Hungary, Italy, the Netherlands, Poland, Russia, Spain, Sweden, Turkey, UK and Ukraine. Hankook products are sold directly through regional distributors in other local markets. Hankook Tire employs approximately 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. Hankook Tire has been represented in the renowned Dow Jones Sustainability Index World (DJSI World) since 2016.

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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Anna Pasternak

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Sabine Riedel

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Yara Willems

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Kristina Schott

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Annika Malcherek

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