Hankook Tire Achieves Record Quarterly Operating Profit of 585.9 Billion Won in Q3

Hankook Tire & Technology announced on November 7 that it recorded sales of 5.4127 trillion won and an operating profit of 585.9 billion won in the third quarter of this year.

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Sales in the tire division reached 2.707 trillion won, an increase of 11.2% compared to the same period last year, while operating profit rose by 10.4% to 519.2 billion won, marking the highest quarterly results ever. The increase in sales was driven by higher sales in the global replacement market, greater supply of original equipment tires, and a higher proportion of high-inch tire sales. Operating profit was supported by reductions in material and logistics costs, which partially offset the impact of U.S. auto parts tariffs.

Hanon Systems, the thermal management division incorporated as a Hankook Tire subsidiary from the first quarter of this year, achieved sales of 2.7057 trillion won, up 8.2% year-on-year. Operating profit reached 95.3 billion won, an increase of 1.7% compared to the same period last year and 48.2% compared to the previous quarter.

In the third quarter, high-inch tires (18 inches or larger) accounted for 47.4% of Hankook Tire’s passenger car and light truck tire sales, up 2.6 percentage points from a year earlier. The share of electric vehicle tires within original equipment tire sales for passenger cars and light trucks rose by 7 percentage points year-on-year to 27%.

Hankook Tire currently has a portfolio spanning approximately 50 global brands and over 290 vehicle models. Leveraging its technology for electric vehicle-specific tires, the company supplies original equipment tires for models such as the Porsche Macan, Xiaomi YU7, and BMW iX and New i4.

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