Hankook Tire Announces 2018 Q1 Financial Result
- - Hankook Tire achieves KRW 1.611 trillion in sales and KRW 184.4 billion in operating profit during the first quarter
- - High inch tires account for 50.6% of total sales, 3.2%p QoQ increase
April XX, 2018 (Seoul, Korea) – Global leading premium tire maker, Hankook Tire (President & CEO Hyun Bum Cho) today announced the company’s 2018 Q1 Financial Result with consolidated global sales of KRW 1.611 trillion and an operating profit of KRW 184.4 billion.
Consistent investment in R&D resulted in the increase of high inch tire (over 17 inches) sales, which took up 53.2% of Europe’s total sales, acknowledged for Hankook Tire’s global top-tier technology and high product quality.
Hankook Tire plans to focus on strengthening the company’s position as a ‘premium brand’ through improving competitiveness in premium product lines, expanding sales of high inch tires and ultra-high performance tires (UHPT) that are expected to see growth in demand.
Hankook Tire will also apply an advanced franchise distribution system to strengthen B2C distribution channels and reinforce downstream distribution to expand its global distribution network. Moreover, the company will proactively target the emerging market based on a multi-brand strategy in order to satisfy diverse consumer needs.
Q1 2018 Consolidated Financial Result
|(Unit: Billion KRW)||Q1 FY 2017||Q4 FY 2017||Q1 FY 2018|
|(Unit: Million USD)||Q1 FY 2017||Q4 FY 2017||Q1 FY 2018|
|(Unit: Million EUR)||Q1 FY 2017||Q4 FY 2017||Q1 FY 2018|
|Q1 FY 2017||Q4 FY 2017||Q1 FY 2018|
|USD / KRW||1,154.28||1,105.72||1,072.29|
|EUR / KRW||1,229.54||1,301.81||1,317.24|