Press release
86KB
november 04, 2016 - Hankook
Hankook Tire Reports Financial Results for the Third Quarter of 2016
Hankook Tire achieved sales revenues of KRW 1.657 trillion and an operating profit of KRW 297.1 billion in the third quarter of 2016.
Seoul, Korea / Neu-Isenburg, Germany, November 4, 2016 – Premium Tyre maker #hankook announced its financial results for the third quarter of 2016 with global sales revenue of KRW 1.657 trillion and an operating profit of KRW 297.1 billion, which increased 23% compared to the same period of last year.
Despite a smaller demand in the global market, positive sales in the UHPT (Ultra High Performance Tyre) segment and the premium OET (Original Equipment Tyre) helped achieve the financial results, especially in Europe and China markets. #hankook Tire managed to secure stable sales results contributed by RET (Replacement Tyre) as well.
Notably, revenue from UHPT sales resulted in a consistently upward trend, accounting for 34.2% of the company’s total sales led by #hankook Tire’s continual technology leadership. The company has proven to be a premium brand in the global market by further extending its OET supply portfolio in the TBR segment (Truck and Bus Radial). Just recently, #hankook Tire has announced that, following Daimler AG and MAN supply, it became Original Equipment supplier for Scania in Europe as well.
Hankook Tire plans to further strengthen its brand portfolio through a multi brand strategy to satisfy various customers’ needs around the globe, while implementing innovative technological leadership through the new global R&D center, #hankook Technodome, which recently opened on October 18, 2016.
Hankook Tire Head Office
997x761, 130KB
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