Kumho Tire Reports 3Q Operating Profit of 96.2 Billion KRW... Profitability Improvement

Kumho Tire announced on the 14th that it achieved consolidated sales of 977.5 billion KRW and an operating profit of 96.2 billion KRW for the third quarter of this year.

Sales remained at a similar level compared to the same period last year, and the operating profit margin reached 9.8% of sales, growing by 9.6 percentage points.

Cumulative sales for the third quarter reached 2.9805 trillion KRW (a 14.2% increase), and operating profit was 238.9 billion KRW, showing significant growth compared to last year and continuing strong performance.

The expansion of the Vietnam factory increased global production capacity, and profitability improved due to a positive management environment, including stabilization of raw materials and freight costs.

Kumho Tire has designated this year as a year of sales growth and set a target of 4.27 trillion KRW, the highest sales in the company's history. To achieve this, it is accelerating efforts in the fourth quarter as well.

Under the leadership of CEO Jeong Il-taek, the company plans to enhance research and development and quality to secure technological competitiveness and strengthen sales and marketing capabilities.

This content was produced with the assistance of AI translation services.