Press Release

  • Corporate

Hankook Tire Announces Financial Results for the Second Quarter of 2019

For the second quarter of 2019 Hankook Tire reports sales of KRW 1.74 trillion and an operating profit of KRW 107.1 billion. High-inch tyres, starting at 18-inch, account for 54.9% of total sales. This marks a 2.8% increase compared to the same period last year, strengthening Hankook’s premium brand image.

Seoul, Korea / Neu-Isenburg, Germany, 2nd August 2019 – Premium tyre maker Hankook Tire announced the company’s financial results for Q2 2019 with consolidated global sales of KRW 1.74 trillion (1.33 billion Euro) and an operating profit of KRW 107.1 billion (81.8 million Euro).

Driven by global top-tier technology and premium product quality, sales of high inch tyres, starting at 18-inch, accounted for 54.9% of passenger car tyres, leading to a 2.8% increase compared to the same period last year and reinforcing Hankook’s premium brand image. The slowdown of the global automotive industry negatively affected the financial results.

Hankook Tire focuses on strengthening the company’s position as a premium brand. Therefore, the tyre-maker expands its presence in the North American market with stabilization of the U.S. Tennessee plant, increasing sales of high inch tyres, starting at 18-inch, in major markets, and enhancing its premium image by providing premium OE tyres and strengthening its product competitiveness. Hankook Tire also plans to diversify its OE portfolio to establish a stable growth structure and optimize its distribution strategies for each region.

 

Q2 2019 Consolidated Financial Result

(Unit: Billion KRW)

Q2 FY 2018

Q1 FY 2019

Q2 FY 2019

Sales

1,705.3

1,642.4

1,741.8

Operating Profit

185.2

140.6

107.1

(Unit: Million USD)

Q2 FY 2018

Q1 FY 2019

Q2 FY 2019

Sales

 1,581.1

 1,459.8

 1,493.9

Operating Profit

 171.7

 125.0

 91.9

(Unit: Million EUR)

Q2 FY 2018

Q1 FY 2019

Q2 FY 2019

Sales

 1,325.2

 1,285.3

 1,329.7

Operating Profit

 143.9

 110.0

 81.8

 

*Exchange Rates:

 

Q2 FY 2018

Q1 FY 2019

Q2 FY 2019

USD / KRW

 1,078.57

 1,125.08

 1,165.91

EUR / KRW

 1,286.84

 1,277.88

 1,309.91

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 21,000 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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Contacts

Felix Kinzer

Director Corporate Communications Europe and CIS

Fon: +49 (0) 6102 8149-170

f.kinzerthou-shalt-not-spamhankookreifen.de

Larissa Büsch

PR Manager Corporate Communications

Fon: +49 (0) 6102 8149-173

l.buesch@hankookreifen.de

Stefan Prohaska

PR Assistant Corporate Communications

Fon: +49 (0) 6102 8149-171

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Kristina Schott

PR Assistant Corporate Communications

Fon: +49 (0) 6102 8149-175

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Annika Malcherek

Digital Lead Corporate Communications

Fon: +49 (0) 6102 8149-176

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