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October 31, 2014 02:00 AM

Hankook Q3 earnings up, sales down

Tire Business Staff
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    SEOUL, South Korea (Oct. 31, 2014) — Hankook Tire Co. Ltd. reported 13.6-percent better operating income for the quarter ended Sept. 30, but revenue declined 4.8 percent from the 2013 quarter.

    Hankook did not elaborate on the reasons for the earnings improvement or revenue decline, but did stresss that its sales of ultra-high-performance tires grew in the quarter and through the nine months, and that business in North America and Europe advanced 10.3 and 15.4 percent, respectively, over the second quarter.

    In the quarter, Hankook generated operating income of $269.1 million on sales of $1.67 billion, for an earnings ratio of 16 percent.

    For the nine-month period, Hankook reported 0.1-percent better operating income of $768.1 million on sales of $4.93 billion, a decline of 5.6 percent from the 2013 results. As a result, the operating ration improved to 15.6 percent.

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