Hankook's Q2 sales hit a new record

Hankook's Q2 sales hit a new record
26 July 2011

Seoul, Korea -- Hankook Tire’s second quarter global sales rose 21 percent YoY at KRW 1.58 trillion (euro 1036 million), recording the highest ever quarter sales The company’s second quarter operating profit recorded KRW 110.7 billion (euro 72.6 million). Sales in Russia almost doubled compared to a year ago.

Europe, North America, and the Asia Pacific regions, reported year-on-year revenue growth of 49.8 percent, 36.0 percent, and 43.7 percent respectively.

The UHP (Ultra High Performance) tyre sales once again played a key role along with Hankook’s increased recognition for high quality tyres, proven by the optimal support for the DTM races, the recent tyre supply to the BMW-group, and excellent results from European tyre tests. In Europe, Hankook sold 89.6 percent more UHP tyres than last year’s second quarter, while it sold 43.6 percent more in North America and 52.5 percent more in the Asia Pacific regions. Overseas original equipment for UHP tyres were up 90 percent from the same period last year.

Seung Hwa Suh, Vice Chairman & CEO of Hankook Tire said, “Hankook Tire continues to achieve a surge in sales in the second quarter, overcoming the various challenges in the current tyre market.” Suh added, “Such accomplishments were possible through the global customers’ trust in Hankook’s quality products fulfilled by ongoing R&D efforts. We look forward to building a stronger momentum to become one of the global leading tyre companies in the near future, through continuous focus on enhancing Hankook’s brand value and increasing customer satisfaction.”