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Hankook Tire Reports Financial Results for the Second Quarter of 2015
- - Hankook Tire achieved global sales revenues of KRW 1.62 trillion and an operating profit of KRW 201.1 billion in the second quarter of 2015
July 31, 2015 (Seoul, Korea) – Hankook Tire today announced its financial results for the second quarter of 2015. The company reported global consolidated sales of KRW 1.62 trillion and an operating profit of KRW 201.1 billion
Dropping prices caused by intensifying competition in the global tire market and slow market growth in China and Korea as well as fluctuations in exchange rates are seen as the main factors contributing to the decline in the company’s global sales revenue and operating profit in the second quarter of 2015 compared to the same period last year.
However, despite these adverse circumstances, the sales volume for developed markets in Europe and North America saw a 12~14% increase compared to the second quarter of 2014. This robust growth is expected to continue for some time and will lead to further sales expansion for Hankook Tire in North America. Furthermore, Hankook Tire’s consistent sales growth in the Ultra High Performance Tire (UHPT) segment reporting the 3.5% increase in sales over the previous year. UHPT accounted for approximately 34% of the company’s total sales in the passenger car market during the second quarter and led the sustainable sales growth of Hankook Tire.
Hankook Tire will work to further improve the company’s position in the premium tire market, particularly in Europe and North America. Hankook Tire will also continue to accelerate its business growth as a global top tier tire company by expanding its supply for larger tire lines, including UHPT and Truck & Bus Radials.Q2 2015 Consolidated Financial Result
|(Unit: Billion KRW)||Q2 FY 2014||Q1 FY 2015||Q2 FY 2015|
|(Unit: Million USD)||Q2 FY 2014||Q1 FY 2015||Q2 FY 2015|
|(Unit: Million EUR)||Q2 FY 2014||Q1 FY 2015||Q2 FY 2015|
|Q2 FY 2014||Q1 FY 2015||Q2 FY 2015|
|USD / KRW||1,030.38||1,100.26||1,097.77|
|EUR / KRW||1,412.93||1,239.34||1,231.55|