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, 2^nd 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

About Hankook Tire

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/street circuits/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.

Hankook Tire’s European headquarters are located in Neu-Isenburg near Frankfurt am Main in Germany. The manufacturer operates further branches in several European countries and sells its products through regional distributors in other local markets. Hankook Tire employs approximately 20,000 people worldwide and sells products in over 160 countries. The company has been the technical partner and exclusive tyre supplier of the Generation 3 for the FIA ABB Formula E World Championship since 2023. Internationally leading car manufacturers rely on tyres made by Hankook for their original equipment. Approximately 38 percent of the company's global sales are generated within the European region.

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

Hankook Tire Europe GmbH | Marketing Communications Europe | Siemensstr. 14, 63263 Neu-Isenburg | Germany