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Hankook Tire promptly shares general news on business opeations with interested parties.

Hankook Tire promptly shares general news on business opeations with interested parties.
Date04/30/2014 Hits63,816

Hankook Tire Reports Robust Earnings Results for First Quarter 2014

Solid earnings result with global sales revenue of KRW 1.67 trillion and operating profit of KRW 260.1 billion
- Hankook Tire’s enhanced brand equity as a premium tire company thanks to a healthy global sales increase in UHP tire segment
 
April 30th, 2014 (Seoul, Korea) – Hankook Tire, the leading and one of the fastest growing tire companies in the world, today announced its financial results for the first quarter 2014 with robust global consolidated sales of KRW 1.67 trillion and operating profit of KRW 260.1 billion, marking a healthy operating profit to sales ratio of 15.5%.
 
Hankook Tire’s solid financial performance for the first quarter was largely driven by brisk sales in ultra-high performance (UHP) tire segment across the global market. The quarterly global sales in UHP tires have shown a 7.6% increase YoY, and this accounted for approximately 29.1% of the company’s consolidated quarterly sales.
 
In particular, China led all markets with UHP tire sales to finish with 18.2% increase from a year earlier. Middle East and other Asia-Pacific regions also enjoyed a drastic growth in UHP tire sales at a rate of 14.4% YoY. Moreover, in developed markets, Europe and North America saw moderate increases in UHP sales with 4.4% and 3.6% growth respectively from the same quarter last year.
 
Such a notable growth momentum in UHP evidently demonstrates Hankook Tire’s strong competitive advantage with innovative tire technology as well as its enhanced brand equity as a premium tire company in the global automotive industry.
 
Mr. Seung Hwa Suh, Vice Chairman & CEO of Hankook Tire said, “Despite challenges arising from changing business environment, our widely recognized tire technology with advanced R&D capability has firmly solidified the foundation for growth, enabling robust financial results for the first quarter in 2014.” He also added, “With our technological leadership accompanied with strategic investments in place, Hankook Tire will continue our endeavor to strengthen our brand value as a premium tire company in the global automotive market.”

Q1 2014 Consolidated Financial Result

Q1 2014 Consolidated Financial Result
(Unit: Billion KRW) Q1 2013 Q4 2013 Q1 2014 YoY % QoQ %
Sales 1,679.3 1,717.9 1,674.8 -0.3% -2.5%
Operating Profit 262.0 254.8 260.1 -0.7% -2.1%
Q1 2014 Consolidated Financial Result
(Unit: Billion KRW) Q1 2013 Q4 2013 Q1 2014
Sales 1,549.1 1,617.5 1,566.7
Operating Profit 241.7 239.9 243.3
Q1 2014 Consolidated Financial Result
(Unit: Billion KRW) Q1 2013 Q4 2013 Q1 2014
Sales 1,173.6 1,188.4 1,143.2
Operating Profit 183.1 176.3 177.5

*Exchange Rates:

Q1 2014 Consolidated Financial Result
  Q1 2013 Q4 2013 Q1 2014
USD / KRW 1,084.08 1,062.10 1,069.01
EUR / KRW 1,430.95 1,445.54 1,465.03
(NOTE: Average exchange rates for the given quarterly period, retrieved from Korea Exchange Bank)

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