Hankook Tire Reports 2026 Q1 Revenue of KRW 5.3139 Trillion and Operating Profit of KRW 506.9 Billion

- Global consolidated revenue reached KRW 5.3139 trillion, with operating profit of KRW 506.9 billion, delivering stable business performance
- The tire division posted sales of KRW 2.5657 trillion, up 9.3% year-over-year, while operating profit reached KRW 437.5 billion
- Expanded OE tire supply for electric vehicle and hybrid models, along with increased replacement tire sales in regions including Europe, contributed to sales growth

Seoul, Korea, May 8, 2026 — A leading global tire company Hankook Tire & Technology (Hankook Tire) announced its consolidated global financial results for the first quarter of 2026, reporting revenue of KRW 5.3139 trillion and operating profit of KRW 506.9 billion. Revenue and operating profit rose 7.0% and 42.9% year-over-year, respectively.

In the tire business, sales grew 9.3% year-over-year to KRW 2.5657 trillion, while operating profit rose 31.1% to KRW 437.5 billion, with an operating margin of 17.1%. Amid continued global uncertainties, including tariffs and high oil prices, expanded OE tire supply for electric vehicle and hybrid models, along with increased replacement tire sales in regions including Europe, Korea, and China, contributed to solid performance.

In the thermal management segment, Hanon Systems—consolidated as a subsidiary of Hankook Tire since 2025—reported first-quarter 2026 sales of KRW 2.7482 trillion, up 5% year-over-year, while operating profit increased 361.1% from a year earlier to KRW 97.2 billion, reflecting stable business expansion.

For Hankook Tire, 18-inch and larger tires accounted for 49.1% of total passenger car and light truck (PCLT) tire sales in the first quarter of 2026, up 2 percentage points year-over-year. Additionally, electric vehicle (EV) tires represented 29.6% of PCLT OE tire sales, an increase of 6.6 percentage points from the same period last year.

In the first quarter of 2026, Hankook Tire further expanded its OE tire supply for both internal combustion engine and electric vehicle models of global premium automotive brands, including Mercedes-Benz, BMW, and Ford. The company currently supplies OE tires to approximately 50 global automotive brands across around 300 vehicle models, including Porsche, reinforcing recognition of its global top-tier technological capabilities and product competitiveness.

Meanwhile, Hankook Tire continues to strengthen its presence in the electrification market through iON, the world’s first full lineup EV-specialized tire brand. Leveraging technological capabilities accumulated even before the commercialization of electric vehicles, the company is strengthening its presence across global markets and currently operates a product portfolio of approximately 300 specifications ranging from 16-inch to 22-inch tires.

Furthermore, Hankook Tire continues to supply racing tires and sponsor participating teams in more than 70 global motorsport competitions, including the FIA World Rally Championship (WRC), ABB FIA Formula E World Championship, and the Lamborghini Super Trofeo. Data and insights gained through these competitions are actively applied in the development of integrated tire solutions spanning internal combustion engine vehicles, electric vehicles, and next-generation mobility.

Hankook Tire is continuing to strengthen its global supply capabilities based on the ongoing expansion of its Tennessee plant in the U.S. and its Hungary plant in Europe. The company also plans to further strengthen partnerships with premium automotive brands, aiming to increase the share of high-inch tires to 51% and EV tires to more than 33% of passenger car and light truck OE tire sales.

[Reference]
Hankook Tire & Technology (Hankook Tire): Consolidated Financial Results for Q1 2026

Hanon Systems: Consolidated Financial Result for Q1 2026

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