Hankook Tire Reports Solid Financial Results for the Third Quarter of 2015
• Company Achieved impressive results with sales revenues of 1.72 trillion CAD and an operating profit of 241.7 billion CAD in the third quarter of 2015
BRAMPTON, ON, November 2, 2015 –Hankook Tire today announced financial results for the third quarter of 2015. The company reported global consolidated quarterly revenue of 1.72 trillion CAD and an operating profit of 241.7 CAD.
Compared to the previous quarter, Hankook Tire was able to register robust sales growth of 6.5 per cent and an increase in operating profits of 20.2 per cent. Despite reduced demand across the global automotive industry, Hankook Tire was able to solidify its presence in the premium tire market with its strong technology leadership and world-class quality products.
Hankook Tire’s performance in the third quarter has seen encouraging results across the board. Particularly the North American Sports Utility Vehicle (SUV) and Light Truck Radial Tire (LTR) market has increased in sales. Hankook Tire also expanded its OE business throughout the year with European car makers. Moreover, significant growth in the region’s winter tire market has positively impacted the company’s overall financial results. The Ultra High Performance (UHP) segment accounted for approximately 40 per cent of the company’s entire revenue, and led to rising global consolidated operating profits.
The economic recovery in North America and Europe has led Hankook Tire to strengthen its focus on expanding sales in the UHP tire segment. In addition, the company will continue to solidify itself as a global top-tier tire company by diversifying its existing portfolio with optimized global network to meet specific needs across the globe.
Q3 2015 Consolidated Financial Result
|(Unit: Billion KRW)||Q3 FY 2014||Q2 FY 2015||Q3 FY 2015|
|(Unit: Million CAD)||Q3 FY 2014||Q2 FY 2015||Q3 FY 2015|
*CAD exchange rate from Bank of Canada
|(Unit: Million USD)||Q3 FY 2014||Q2 FY 2015||Q3 FY 2015|
|(Unit: Million EUR)||Q3 FY 2014||Q2 FY 2015||Q3 FY 2015|
|Q3 FY 2014||Q2 FY 2015||Q3 FY 2015|
|USD / KRW||1,025.76||1,097.77||1167.80|
|EUR / KRW||1,362.17||1,213.55||1298.59|
(NOTE: Average exchange rates for the given annual period, retrieved from Korea Exchange Bank)
About Hankook Tire Canada Corp.
Headquartered in Brampton, Ontario, Hankook Tire Canada Corporation is a technology-focused, customer-oriented company that markets and distributes a complete line of high performance and ultra-high performance passenger tires, light truck and SUV tires, winter tires and medium truck and bus tires in Canada. With quality-proven products, Hankook Tire Canada is rapidly growing to become an industry leader in Canada. As the National Partner and the Official Tire of Hockey Canada, Hankook Tire Canada actively supports grassroots sports and contributes back to local communities.