Hankook Tire Announces Second-Quarter 2017 Financial Results
- - Hankook Tire achieves KRW 1.667 trillion in sales and KRW 203.7 billion in operating profit for second quarter 2017
- - Increased sales of Ultra High Performance Tire (UHPT) with global top tier technologies
- - UHPT takes 36.9% of total sales, 1.7% point YOY increase
August 8, 2017 (Seoul, Korea) – Hankook Tire today reported its financial results for the second quarter of 2017 with global sales of KRW 1.667 trillion and an operating profit of KRW 203.7 billion
Although Hankook Tire’s 2Q sales increased by 1.7% compared to the previous quarter, its operating profit decreased by 12.3%. Compared to the same period of last year, overall sales and operating profit decreased by 3.5% and 34.4%. The biggest factor in the decline of operating profit is due to the increased price of raw materials.
On the other hand, Hankook Tire’s quarter-on-quarter sales revenue increased, with growth outpacing the market and continuous UHPT sales increase. UHPT sales ratio increased by 1.7% point, accounting for 36.9% of total sales generated during the second quarter. Hankook Tire plans to continue growth in the UHPT segments and respond flexibly to the changes in the automobile industry.
Q2 2017 Consolidated Financial Result
|(Unit: Billion KRW)||Q2 FY 2016||Q1 FY 2017||Q2 FY 2017|
|(Unit: Million USD)||Q2 FY 2016||Q1 FY 2017||Q2 FY 2017|
|(Unit: Million EUR)||Q2 FY 2016||Q1 FY 2017||Q2 FY 2017|
|Q2 FY 2016||Q1 FY 2017||Q2 FY 2017|
|USD / KRW||1,163.30||1,154.28||1,129.43|
|EUR / KRW||1,313.26||1,229.54||1,242.84|
(NOTE: Average exchange rates for the given annual period, retrieved from Korea Exchange Bank)