Kumho Tire operating profit rises 20% in third quarter

Seoul – Kumho Tire has reported a 20.3% year-on-year increase in third-quarter operating profit, supported by higher tire sales in North America and Europe.

The South Korean tire maker posted operating profit of KRW130.5 billion (€89 million) for the three months ended 30 Sept, compared with KRW108.5 billion a year earlier.

Consolidated sales rose 11.1% to KRW1,237 billion from KRW1,113 billion, Kumho announced 29 Oct.

The results marked the company's 12th consecutive quarter of sales exceeding KRW1 trillion, driven by increased OE supply and sales of "high-margin" replacement tires.

Kumho linked the improved performance to a higher proportion of large-diameter and electric vehicle tires, alongside expanded sales in North America and Europe.

The proportion of tires measuring 18 inches or larger reached 47.0% in the first nine months, meeting the company's full-year target.

Meanwhile, EV tires accounted for 24.6% of global OE tire sales, compared with Kumho's 2026 target of 30%.

For the first nine months, Kumho reported consolidated sales of KRW3,738 billion, up 5.6%, while operating profit increased 6.9% to KRW459.8 billion.

The company maintained its annual revenue target of KRW5.1 trillion and said it would continue expanding sales of premium and high-margin products.

Kumho also reaffirmed plans to progress construction of its new Hampyeong plant in South Korea and its European tire production facility.

The projects are intended to strengthen its global manufacturing network and support further growth in international markets.