Kumho Tire Q1 Operating Profit 53.8 Billion KRW... "Largest Quarterly Performance in 10 Years"

Kumho Tire announced on the 28th that its preliminary sales for the first quarter reached 996.1 billion KRW, with an operating profit of 53.8 billion KRW.

Sales increased by 34.8% compared to the same period last year due to higher selling prices and increased sales volume. Despite rising transportation costs and various selling and administrative expenses caused by high inflation, operating profit grew approximately 9990% year-on-year through an expanded proportion of high-margin product sales, stabilization of global selling prices, and internal cost reduction efforts.

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Jung Il-taek, CEO of Kumho Tire, announced last month that the company aims to achieve its highest-ever annual sales of 4.27 trillion KRW this year. Kumho Tire successfully returned to profitability last year, establishing a foundation for business normalization. This year, the company plans to increase sales by expanding supply volumes to domestic and overseas automobile manufacturers and diversifying sales channels, while focusing on improving profitability through cost structure efficiency.

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