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Hankook Tire Reports Revenue of KRW 1.72 trillion and KRW 310.2 billion Operating Profit for Second Quarter 2016
- - Increased results driven by sales performance of UHP tires in Europe and North America, and expansion of in global OE supply
August 16, 2016 (Seoul, Korea) – Hankook Tire today reported its financial results for the second quarter of 2016 with global sales revenue of KRW 1.72 trillion and an operating profit of KRW 310.2 billion. Sales revenue was increased 6.6 % compared to the same period of last year.
Hankook Tire’s upward performance in 2Q 2016 is largely contributed by UHPT, which has increased to account for 37.7% of overall sales. Compared to the same period of last year, UHPT performance has increased 2.6% and is continuously growing in some of the largest automotive markets, such as Europe and North America.
Hankook Tire has demonstrated its passion and innovative challenge as it signs global partnership with Real Madrid, based on the shared spirit of ‘winning innovation’ between the two parties. Hankook Tire’s excellence in technology and premium value led the company to secure multiple OET contracts with a number of high-end premium automakers, including BMW new flagship 7 series and Macan, a high-end SUV by Porsche.
In second half of 2016, Hankook Tire plans to further strengthen its technology leadership, as it opens Hankook Technodome, a global hub R&D center based in Korea. It also aims to focus on further widening UHPT and premium OET offerings as well as RET (Replacement Tire). In addition, Hankook Tire plans further enhance its market share by strengthening global distribution channel strategy and actively engaging in expansion of contact point with global customers.