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Hankook Tire promptly shares general news on business opeations with interested parties.
Date12/02/2012 Hits21,552

Hankook Tire Sets Record High Global Sales Growth in the First Quarter of 2012

Hankook Tire Sets Record High Global Sales Growth
in the First Quarter of 2012
 
- Hankook Tire’s global sales continued its double-digit growth at 17.1% YoY to KRW 1.71 trillion during the first quarter
- Sales growth in major markets such as Europe and North America led the overall upward business momentum
- The growth also driven by rapid increase in the demand for Hankook’s UHP  tires
 
April 30th, 2012 (Seoul, Korea) – Hankook Tire, the seventh-largest and one of the fastest growing tire companies in the world, announced a continued robust sales growth during the first quarter 2012, with the global consolidated sales of KRW 1.71 trillion, recording a 17.1% YoY increase. 
 
Despite economic downturn and eroded profitability due to price increase in raw materials, Hankook Tire’s operating profit for this quarter marked a sharp increase to KRW 235.3 billion, ascending from the previous quarter by 71.1%.
 
Hankook Tire’s outstanding global business performance for the first quarter was driven by sharp, accelerated sales growth in its major markets including Europe, North America and other emerging economies. In Europe and North America, which make up 26.7% and 19.8% of the total global sales respectively, the sales growth occurred at a rate of 37% and 31% in each region, marking the highest sales figures since its entry to these markets. The sales in emerging markets including South America and Southeast Asia also jumped by 32.8%, reflecting Hankook Tire’s fast growing market presence.
 
Hankook Tire’s enhanced brand value as a premium tire manufacturer played a crucial role in achieving healthy growth. In particular, the company’s innovative technology as well as superiority in its product quality and performance has continuously been proven in premium tire sector, as reflected in the growth in UHP (Ultra-High Performance) tires as well as OE (Original Equipment) tires.
 
Europe and North America, the home of many premium automakers, led the UHP tire sales growth among all regions at a rate of 45.2% and 33.9% respectively. In the emerging economies, the demand for UHP tires also continued its hot streak in line with rapidly growing automotive market. In addition, Hankook has been steadily expanding its OE portfolio by winning the contract to supply tires to premium automakers such as the brand new BMW 3-Series, following on from the MINI and the new 1-Series.
 
“Hankook Tire has witnessed a continued positive double-digit growth in our global sales during the first quarter. Despite continued global economic downturn, we have been able to set global sales growth and operating profit based on consistent tire quality improvement as well as brand equity enhancement.” says Mr. Seung Hwa Suh, Vice Chairman & CEO of Hankook Tire. He adds, “Building on this growth momentum, we will continue to strengthen our brand value and satisfy our customers as a leading global tire manufacturer through intensive marketing and communication activities.”
 
Q1 2012 Consolidated Profit 
(Unit: Billion KRW)
  Q1 2011 Q1 2012 YoY %
Sales 1,459.9 1,709.7 17.1%
Operating Profit 193.6 235.3 21.5%

 

(Unit: Million USD)
  Q1 2011 Q1 2012
Sales 1,302.3 1,511.7
Operating Profit 172.7 208.0

 

(Unit: Million Euro)
  Q1 2011 Q1 2012
Sales 952.9 1,152.1
Operating Profit 126.4 158.6

 

 

* Exchange Rate: 

  Q1 2011  Q1 2012
USD/KRW 1,121.00 1,131.00
EUR/KRW 1,532.00 1,484.00

 

 

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