Hankook Tire sees Q3 increase in sales and operating profit

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Hankook achieved global sales of R1.824trn (€1.371bn/US$1.6bn) and an operating profit of R214.1bn (€161m/US$189m), in Q3 of 2017.

Compared to Q2 2017, sales and operating profit increased by 9.5% and 4.6% respectively. In comparison to Q3 2016, sales increased by 10.1% and operating profit decreased by 29.2%.

It is believed the increase in sales is due to the stable sales of ultra-high-performance tires (UHPT) and increased sales of winter tires in Europe.

Meanwhile a steep increase in sales in the UHPT-segment and higher supply volumes of premium original equipment tires on the Chinese market, also drove sales growth. Sales in emerging markets in the ASEAN (Association of Southeast Asian Nations) region, such as Indonesia, also contributed to the increase.

November 7, 2017

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Rachel's career in journalism began around five years ago when she started working for UKi Media & Events, having recently graduated from Coventry University where she studied the subject. Her favourite aspect of the job is interviewing industry experts, including researchers, scientists, engineers and technicians, and learning more about the ground-breaking technologies and innovations that are shaping the future of the automotive and tire industries.

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