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Date 01/21/2007 Hits65,521

Category Corporate

Hankook Tire targets global sales of 3.6 bil. USD in 2007

 

Hankook Tire targets global sales of 3.6 bil. USD in 2007
 
- 2007 global sales target of 3.6 bil. USD, operating profit 340 mil. USD, recurring profit 283 mil. USD
- Proactive marketing, increased sales of OE tires to premium automakers, and management innovation will leverage sales increase in 2007
- Start of production from Hungary plant will contribute to increase of global sales
 
SEOUL, SOUTH KOREA (19th, January 2007) - Hankook Tire (www.hankooktire.com, CEO Choong Hwan Cho) announced their global sales target for 2007 up to 3.6 billion USD. They also target operating profit of 340 million USD and the recurring profit of 282 million USD.
 
Global sales target is based on production from Korean plants (Daejon, Geumsan), China (Jiaxing, Jiangsu) plants and some part from Hungary (Dunaujvaros) plant which the production will start in mid this year. And Korea operation itself expects 13.8% of increase from total sales of 2.5 billion USD compared to last year. And Hankook Tire also targets 65.1% of increase from operating profit of 301 million USD and 40.8% of increase from recurring profit.
 
In 2006, Korean operations sales grew approximately 10.36% percent from 2005 to 2.2 billion USD, while operating profit decreased 18.9 % to 183 million USD. Preliminary figures put the recurring profit at 237 million USD, down 14.25 %, and net profit at 175 million USD down 16.3 %.
 
(Unit: 1,000 USD)
 
* Exchange Rate: 1USD = year 2005: 1023.41 KRW / year 2006: 954.10 KRW / year 2007: 920 KRW

2007 Global Sales Target (Tire Sales Only) **

Total Sales

Operating Profit

Recurring Profit

Net Profit

3,608,043

340,203

282,752

209,236

 

**Global Sales Target do not include sales figures of Hankook Tire’s affiliated companies.

Hankook Tire Co., Ltd (Korean Operations) ***

2007(T)
 

2005

2006(E)

    
 

Amount

% of Total

Amount

% of Total

Change Amount

% of Total

  

Sales

1,969,329 

100.00%

2,173,28  

100.00%

203,955

10.36%

2.472.639

Operating

Profit

225,226  

11.40%

182,661  

8.40%

-42,565

-18.90%

301.661

Recurring

Profit

275,972  

14.00%

236,640  

10.90%

-39,332

-14.25%

333.293

Net Profit

208,662  

            

 

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