ERJ staff report (BC)
Seoul, Korea/Neu-Isenburg, Germany - Hankook Tire's financial results for fiscal 2012 show record sales of Euro 4.97bn (KRW 7.029 trillion), a year-on-year (YoY) increase of 8.3%. Operating profit increased to Euro 645.6m (KRW 912.9 billion), 57.9% greater YoY.
The company attributes highest-ever sales to its ultra-high performance (UHP) tire series, especially in emerging markets including Russia/CIS and Latin America, as well as â€œenhanced brand equity as a premium manufacturer.â€
Hankook cites â€œgrowing partnerships with premium automakersâ€ contributing to the sales record. Its OE supply contracts to premium automakers jumped by 27.6% YoY, the company said, led by factory installation of UHP tires on BMW's new 1 and 3 series models, the Lincoln MKZ, as well as Audi, Volkswagen and Chrysler. In China, OE fitment contracts to Audi registered a YoY increase of 156%.
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