Hankook & Company Reports Q1 Operating Profit of KRW 121.7 Billion, Down 4.1% Year-on-Year

Hankook & Company, the business-oriented holding company of Hankook & Company Group, announced on the 13th that it recorded consolidated global sales of KRW 378.4 billion and operating profit of KRW 121.7 billion for the first quarter of 2026.

Sales and operating profit decreased by 2.7% and 4.1%, respectively, compared to the same period last year. However, compared to the previous quarter, they increased by 11.2% and 64.9%, respectively.

Exterior of Technoplex, headquarters of Hankook & Company Group. Hankook & Company Group

For Hankook & Company's 'Hankook Battery' business, sales and operating profit slightly declined year-on-year due to external factors such as rising raw material costs and logistics expenses. However, sales of its premium AGM (Absorbent Glass Mat) batteries have maintained steady growth.

On the other hand, equity-method earnings for Hankook & Company increased year-on-year, driven by the robust performance of its core subsidiary, Hankook Tire & Technology (hereafter Hankook Tire).

Hankook & Company expects management uncertainty to persist for the foreseeable future due to geopolitical risks and escalating conflicts among major countries.

To overcome these challenges, the Hankook Battery (lead-acid battery) business plans to flexibly respond to market changes by expanding sales centered on AGM batteries, improving its regional portfolio, and securing new clients, all based on the competitiveness of the 'Hankook' family brand.

A representative from Hankook & Company stated, "Even as global management uncertainty grows due to geopolitical issues, we continue to maintain stable sales in the battery business as a business-oriented holding company. Going forward, we will continue to strengthen the competitiveness of our subsidiaries and flexibly respond to changes in the global market, leveraging the 'Hankook' brand."

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