Hankook Tire & Technology reported on the 14th that its operating profit for the second quarter of this year was 353.6 billion won, a 15.8% decrease compared to the same period last year. This is due to the impact of tariffs. During the same period, sales amounted to 5.3696 trillion won, an increase of 131.7%.
By institutional sector, sales in the tire sector recorded a 8.4% increase at 2.5114 trillion won, while operating profit decreased by 17.5% to 346.3 billion won. In the global market, while increased sales of replacement and new car tires and an expanded proportion of high value-added products raised revenue, operating profit decreased due to the effects of tariffs on U.S. auto parts, materials costs, and freight.
In the first half of this year, the share of sales of high-inch products, which are 18 inches or larger, among Hankook Tire's cumulative passenger car and light truck tire sales stood at 47.2%, an increase of 0.6 percentage points from the previous year. During the same period, the share of electric vehicles in passenger car and light truck new tire sales was 24%, up 7 percentage points compared to the previous year.
In the thermal management sector, Hanon Systems recorded sales of 2.8581 trillion won and operating profit of 64.3 billion won. Compared to the same period last year, sales increased by 11.7%, while operating profit decreased by 10.2%. Hankook Tire has been reflecting the consolidated results of Hanon Systems, which was incorporated as a subsidiary from the first quarter of this year.