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Hankook Tire Announces 2019 Q2 Financial Result
- - High inch tires (over 17 inch) account for 54.9% of total sales, a 2.8%p YoY increase, achieving quality growth
Seoul, Korea, 2 August 2019 – Global leading premium tire maker, Hankook Tire (President & CEO Hyun Bum Cho) announced today the company’s 2019 Q2 Financial Result with consolidated global sales of KRW 1.7418 trillion and an operating profit of KRW 107.1 billion.
Driven by global top-tier technology and premium product quality, sales of high inch tires (over 17 inches) accounted for 54.9% of passenger car tires, leading to 2.8%p YoY increase and reinforcing its premium brand image. On the other hand, a slowdown in demand from economic depression as well as a downturn in the automotive industry negatively affected the financial result.
Moving forward, Hankook Tire will focus on expanding its presence in the North American market with stabilization of the U.S. Tennessee plant, increasing sales of high inch tires (over 17 inches) in major markets, and enhancing its premium image by providing premium OE tires and strengthening its product competitiveness. Hankook Tire also plans to diversify its OE portfolio to establish a stable growth structure and optimize distribution strategies for each region.
Q2 2019 Consolidated Financial Result
|(Unit: Billion KRW)||Q2 FY 2018||Q1 FY 2019||Q2 FY 2019|
|(Unit: Million USD)||Q2 FY 2018||Q1 FY 2019||Q2 FY 2019|
|(Unit: Million EUR)||Q2 FY 2018||Q1 FY 2019||Q2 FY 2019|
|Q2 FY 2018||Q1 FY 2019||Q2 FY 2019|
|USD / KRW||1,078.57||1,125.08||1,165.91|
|EUR / KRW||1,286.84||1,277.88||1,309.91|