Hankook profits jump on higher Q1 sales-updated

ERJ staff report (DS)

Seoul, Korea - First-quarter consolidated operating profits at the Korean tyre maker Hankook jumped 21.6 percent, to KRW 235 billion (euro 157 million) on sales of KRW 1,709,729 million (euro 1144 million)

Sales were do

ERJ staff report (DS)

Seoul, Korea - First-quarter consolidated operating profits at the Korean tyre maker Hankook jumped 21.6 percent, to KRW 235 billion (euro 157 million) on sales of KRW 1,709,729 million (euro 1144 million).

Sales were down by about 4 percent on the KRW 1,785,253 million reported in the previous quarter, but up by 17.1 percent over the same period a year earlier.

Hankook Tire's progress was driven by accelerated sales growth in its major markets including Europe, North America and other emerging economies. In Europe and North America, which make up 26.7 percent and 19.8 percent of the total global sales respectively, the sales growth occurred at a rate of 37 percent and 31 percent in each region, marking the highest sales figures since its entry to these markets. The sales in emerging markets including South America and Southeast Asia also jumped by 32.8 percent, reflecting Hankook Tire's fast growing market presence.

Europe and North America, the home of many premium automakers, led the UHP tyre sales growth among all regions at a rate of 45.2 percent and 33.9 percent respectively.

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Press release from Hankook

Stock Exchange filing from Hankook, via Korean Stock Exchange

wn by about 4 percent on the KRW 1,785,253 million reported in the previous quarter, but up by 17.1 percent over the same period a year earlier

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This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

Stock Exchange filing from Hankook, via Korean Stock Exchange