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May 5

Hankook Tire announces 2021 Q1 financial results

Premium tyre maker Hankook has announced  the company’s 2021 Q1 financial results with consolidated global sales rising 12.6% YoY to KRW 1.61 trillion (EUR 1.203 million)and operating profit of KRW 186 billion (EUR 138 million), an increase of 75.5% YoY.

As the global market recovers from the impact of the pandemic, Hankook’s business has also been steadily recovering since the second half of 2020. The company is seeing sales stabilise in several major markets that include Europe, North America, and China, particularly in the high-inch tyre sector that accounts for tyres 18 inches or higher. Global sales of high-inch tyres accounted for 38% of entire tyre sales, which is now up 4 percentage points compared to the same period last year.

Source: Hankook Tire

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