Seoul, Korea / Neu-Isenburg, Germany, 8 May 2026 – Premium tyre manufacturer Hankook announced its consolidated global financial results for the first quarter of 2026, reporting revenue of KRW 5.3139 trillion (EUR ~3,100.7m) and operating profit of KRW 506.9 billion (EUR ~295.8m). Revenue and operating profit rose 7.0% and 42.9% year-over-year, respectively.

In the tyre business, sales grew 9.3% year-over-year to KRW 2.5657 trillion (EUR ~1,497.1m), while operating profit rose 31.1% to KRW 437.5 billion (EUR ~255.2m), with an operating margin of 17.1%. Amid continued global uncertainties, including tariffs and high oil prices, expanded OE tyre supply for electric vehicle and hybrid models, along with increased replacement tyre sales in regions including Europe, Korea and China, contributed to the solid performance.

In the thermal management segment, Hanon Systems – consolidated as a subsidiary of Hankook since 2025 – reported first-quarter 2026 sales of KRW 2.7482 trillion (EUR ~1,603.6m), up 5% year-over-year, while operating profit increased 361.1% from a year earlier to KRW 97.2 billion (EUR ~56.7m), reflecting stable business expansion.

For Hankook, 18-inch and larger tyres accounted for 49.1% of total passenger car and light truck (PCLT) tyre sales in the first quarter of 2026, up 2 percentage points year-over-year. Additionally, electric vehicle (EV) tyres represented 29.6% of PCLT OE tyre sales, an increase of 6.6 percentage points from the same period last year.

In the first quarter of 2026, Hankook further expanded its OE tyre supply for both internal combustion engine and electric vehicle models from global automotive brands, including BMW, Ford, Mercedes-Benz, and Porsche. The company currently supplies OE tyres to approximately 50 global automotive brands across around 300 vehicle models, reinforcing recognition of its global top-tier technological capabilities and product competitiveness.

Meanwhile, Hankook continues to strengthen its presence in the electrification market through iON, the world’s first full lineup EV-specialised tyre brand. Leveraging technological capabilities accumulated even before the commercialisation of electric vehicles, the company is strengthening its presence across global markets and currently operates a product portfolio of approximately 300 specifications ranging from 16-inch to 22-inch tyres.

Furthermore, Hankook continues to supply racing tyres and sponsor participating teams in more than 70 global motorsport competitions, including the FIA World Rally Championship (WRC), ABB FIA Formula E World Championship and the Lamborghini Super Trofeo. Data and insights gained through these competitions are actively applied in the development of integrated tyre solutions spanning internal combustion engine vehicles, electric vehicles and next-generation mobility.

Hankook is continuing to strengthen its global supply capabilities based on the ongoing expansion of its Tennessee plant in the U.S. and its Hungary plant in Europe. The company also plans to further strengthen partnerships with premium automotive brands, aiming to increase the share of high-inch tyres to 51% and EV tyres to more than 33% of passenger car and light truck OE tyre sales.

Hankook: Consolidated Financial Results for Q1 2026

Hanon Systems: Consolidated Financial Results for Q1 2026

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