2Q Steady Kumho Tire... Operating Profit 151.5 Billion KRW, Up 72% YoY

Operating Profit Margin Surpasses 13% for 3 Consecutive Quarters
Growth in Both OE and RE... Increased High-Inch Products

Kumho Tire achieved solid results in the second quarter of this year by growing both new car tires (OE) and replacement tires (RE).

On the 30th, Kumho Tire announced its preliminary consolidated results for the second quarter of this year, recording sales of 1.1319 trillion KRW and an operating profit of 151.5 billion KRW. Compared to the same period last year, sales increased by 12.7% and operating profit by 72.0%. The sales figure was the second largest ever for the second quarter. The operating profit margin exceeded 13% for the third consecutive quarter, reaching 13.4%.

This is attributed to the expansion of OE supply and growth across the RE market, including high-profit tires. In particular, Kumho Tire explained that increasing the sales proportion of high value-added products, such as high-inch products of 18 inches or more, was effective.

As of the first half of the year, the sales proportion of high-inch products was 40.8%. The OE supply ratio of electric vehicle (EV) tires rose from about 9% last year to 12%, due to the expansion of new models. Previously, Kumho Tire had also increased the sales proportion of high-inch products of 18 inches or more to 42%, and secured more than 16% of OE sales from EV tires, aiming to achieve sales of 4.56 trillion KRW this year.

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