Hankook achieved global sales of R1.824trn (€1.371bn/US$1.6bn) and an operating profit of R214.1bn (€161m/US$189m), in Q3 of 2017.
Compared to Q2 2017, sales and operating profit increased by 9.5% and 4.6% respectively. In comparison to Q3 2016, sales increased by 10.1% and operating profit decreased by 29.2%.
It is believed the increase in sales is due to the stable sales of ultra-high-performance tires (UHPT) and increased sales of winter tires in Europe.
Meanwhile a steep increase in sales in the UHPT-segment and higher supply volumes of premium original equipment tires on the Chinese market, also drove sales growth. Sales in emerging markets in the ASEAN (Association of Southeast Asian Nations) region, such as Indonesia, also contributed to the increase.
November 7, 2017
