Premium tyre manufacturer Hankook announces global sales revenue of KRW 1.66 trillion and operating profit of KRW 251.2 billion in the second quarter of 2014. Moreover, the company solidified its brand reputation as a global tyre company with robust UHP tyre sales and continued investments in R&D.
Hankook Tire today announced financial results for the second quarter 2014. The company posted global consolidated quarterly revenue of KRW 1.66 trillion, and its quarterly operating profit marked KRW 251.2 billion.
Hankook Tire has built a strong brand reputation as a global premium tyre company with its robust sales in Ultra-High Performance (UHP) tyre segment and consistent investments in new technologies.
The UHP tyre segment accounts for 30% of the company’s consolidated quarterly sales. In addition, Hankook Tire is continuing its business growth in the global automotive market including Europe, led by a growing recognition for the company’s advanced tyre technology and performance.
Hankook Tire recently broke ground for its new R&D center, HANKOOK TECHNODOME, in Daejeon, Korea. Hankook’s continuous investments in R&D reflect its keen emphasis on further development of future-oriented tyre technology to improve its global competitiveness and to path its way to become a global top-tier tyre brand.
Q2 2014 Consolidated Results
| (Unit: Billion KRW) | Q2 2013 | Q1 2014 | Q2 2014 | YoY % | QoQ % |
| Sales | 1,870.6 | 1,675.0 | 1,661.5 | -11.2% | -0.8% |
| Operating Profit | 271.3 | 260.2 | 251.2 | -7.4% | -3.5% |
| (Unit: Million USD) | Q2 2013 | Q1 2014 | Q2 2014 |
| Sales | 1,667.0 | 1,566.9 | 1,612.5 |
| Operating Profit | 241.8 | 243.4 | 243.8 |
| (Unit: Million Euro) | Q2 2013 | Q1 2014 | Q2 2014 |
| Sales | 1,276.5 | 1,143.3 | 1,175.9 |
| Operating Profit | 185.1 | 177.6 | 177.8 |
* Exchange Rate:
| Q2 2013 | Q1 2014 | Q2 2014 | |
| USD/KRW | 1,122.15 | 1,069.01 | 1,030.38 |
| EUR/KRW | 1,465.46 | 1,465.03 | 1,412.93 |
(NOTE: Average exchange rates for the given quarterly periods, retrieved from Korea Exchange Bank)
