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Hankook Tire Reports Financial Results for the Second Quarter of 2016

The tyre maker achieved global sales revenues of KRW 1.72 trillion and an operating profit of KRW 310.2 billion during the second quarter of 2016. The business growth was driven by a boost in UHP tyre sales in Europe and North America as well as the expansion of overseas Original Equipment sales.
Hankook Tire Reports Financial Results for the Second Quarter of 2016

Seoul, Korea / Neu-Isenburg, Germany, 16 August 2016 – Premium tyre maker Hankook today reported its financial results for the second quarter of 2016 with global sales of KRW 1.72 trillion (approx. € 1.315 billion) and an operating profit of KRW 310.2 billion (approx. € 236.3 million). The company continued to strengthen its brand equity with increased sales revenues of 6.6% compared with the previous year quarter.

Compared with the same quarter last year, the Ultra High Performance tyre (UHP) segment has significantly increased by 2.6 % and contributed to Hankook Tire's growth in the second quarter of 2016. The segment accounts for 37.7% of overall sales and continues to grow in automobile core markets, Europe and North America.

Due to its technological excellence, Hankook secured multiple Original Equipment tyre (OE) contracts with several premium automakers for e.g. the new BMW 7-Series and the Porsche Macan. Hankook Tire further improves its visibility as a premium brand by recently signing a global partnership with UEFA Champions League winner Real Madrid CF.

With the opening of its “Technodome”, the company’s new global hub R&D center later this year, Hankook Tire plans to further strengthen its technology leadership. The company will also focus on the continuous expansion of UHP and premium OE offerings as well as the Replacement tyre (RE) segment. In addition, Hankook Tire plans to enhance its market share by strengthening the global distribution channel strategy and actively expanding the relationship with global customers.

 

 

Q2 2016 Consolidated Financial Result  

 

(Unit: Billion KRW)

Q2 FY 2015

Q1 FY 2016

Q2 FY 2016

Sales

1,619.9

1,626.0

1,727.4

Operating Profit

201.0

251.1

310.2

 

(Unit: Million USD)

Q2 FY 2015

Q1 FY 2016

Q2 FY 2016

Sales

1,475.6

1,353.9

1,484.9

Operating Profit

183.1

209.1

266.7

 

 

 

 

(Unit: Million EUR)

Q2 FY 2015

Q1 FY 2016

Q2 FY 2016

Sales

1,334.8

1,228.0

1,315.4

Operating Profit

165.6

189.6

236.2

 

*Exchange Rates:

 

Q1 FY 2015

Q1 FY 2015

Q2 FY 2016

USD / KRW

1,097.77

1,200.96

1,163.30

EUR / KRW

1,213.55

1,324.14

1,313.26

(NOTE: Average exchange rates for the given annual period, retrieved from Korea Exchange Bank)

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

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Sabine Riedel

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