Hankook Tire’s Q1 figures show increased turnover and operating profit
Hankook’s 2021 Q1 financial results show consolidated global sales rising 12.6 per cent YoY to KRW 1.61 trillion (EUR 1.203 million) and an operating profit of KRW 186 billion (EUR 138 million); an increase of 75.5 per cent 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 (tyres with diameters 18 inches or higher.) Global sales of high-inch tyres accounted for 38 per cent of total tyre sales, which is up 4 percentage points compared to the same period last year.