SEOUL, South Korea (Oct. 28, 2013) — Hankook Tire Co. Inc. reported 9.9-percent improved operating income for the quarter ended Sept. 30 on marginally better sales.
Hankook attributed the improved earnings, to $219.6 million, to its expanding OE portfolio with European and Japanese car makers.
Revenue for the quarter increased 0.8 percent to $1.62 billion, resulting in an improved operating margin of 13.6 percent, a full percentage higher than a year ago.
Hankook did not disclose net earnings or any data related to regional performance.
"Our expanding premium OE portfolio was the key attribute behind this quarter's solid business performance,…" said Hankook Vice Chairman and CEO Seung Hwa Suh.
Mr. Suh also noted that Hankook's ongoing investment program — a new Indonesia plant, plans for a U.S. plant, and R&D expansions in Korea — represents a "stronger springboard for growth…."