Hankook Tire sales increase 17%

qiangzi

Tuesday, May 1, 2012
2 R' ]) {' O; Y8 _  q
! D$ q" M% k5 xWayne, NJ - Hankook Tire announced continued strong sales growth for the first quarter of 2012, with global consolidated sales of KRW 1.71 trillion, marking a 17.1% year-over-year increase. Despite challenging global economic market conditions and eroded profitability due to an increase in the price of raw materials, Hankook Tire’s operating profit for the first quarter of 2012 increased to KRW 235.3 billion, rising 71.1% from the previous quarter. Hankook’s global sales performance for the first quarter of 2012 was driven by accelerated sales growth in major markets including North America, Europe and other emerging economies. In North America and Europe, which make up 19.8% and 26.7% of Hankook Tire’s total global sales respectively, the growth occurred at a rate of 31% and 37% in each region, marking the highest sales figures since Hankook’s entry into these markets. Additionally, sales in emerging markets including, South America and Southeast Asia, increased 32.8%, reflecting Hankook Tire’s fast growing market presence in these regions.