Company
Hankook Tire Announces Third-Quarter 2017 Financial Results
2017. 11. 06
- - Hankook Tire achieves KRW 1.824 trillion in sales and KRW 214.1 billion in operating profit for the third quarter of 2017
- - Driven by increased sales of Ultra High Performance Tire (UHPT) in Europe and China
November 6, 2017 (Seoul, Korea) – Hankook Tire today reported its financial results for the third quarter of 2017 with global sales of KRW 1.824 trillion and an operating profit of KRW 214.1 billion.
Compared to the second quarter of 2017, sales and operating profit increased by 9.5% and 4.6% respectively, while in comparison to the third quarter of 2016, sales has increased by 10.1% and operating profit has decreased by 29.2%.
The increase in sales was attributable to the stable sales of UHPT and increase in sales of winter tires in Europe. Moreover, a sharp increase in sales of UHPT tires and expansion of premium original equipment tire (OET) supply in the Chinese market, and the sales of emerging markets in the ASEAN region, such as Indonesia have also contributed to the increase in sales.
Q3 2017 Consolidated Financial Result
| (Unit: Billion KRW) | Q3 FY 2016 | Q2 FY 2017 | Q3 FY 2017 |
|---|---|---|---|
| Sales | 1,657.6 | 1,666.9 | 1,824.5 |
| Operating Profit | 302.6 | 204.6 | 214.1 |
| (Unit: Billion KRW) | Q3 FY 2016 | Q2 FY 2017 | Q3 FY 2017 |
|---|---|---|---|
| Sales | 1,478.1 | 1,475.8 | 1,611.4 |
| Operating Profit | 264.9 | 180.4 | 189.1 |
| (Unit: Billion KRW) | Q3 FY 2016 | Q2 FY 2017 | Q3 FY 2017 |
|---|---|---|---|
| Sales | 1,324.9 | 1,341.1 | 1,371.6 |
| Operating Profit | 237.4 | 163.9 | 161 |
*Exchange Rates
| Q3 FY 2016 | Q2 FY 2017 | Q3 FY 2017 | |
|---|---|---|---|
| USD / KRW | 1,121.37 | 1,129.43 | 1,132.24 |
| EUR / KRW | 1,251.04 | 1,242.84 | 1,330.20 |
(NOTE: Average exchange rates for the given annual period, retrieved from Korea Exchange Bank)