Kumho Tire said in a filing on the 28th that, on a consolidation basis, it posted first-quarter revenue of 1.1678 trillion won and operating profit of 147.0 billion won in a preliminary tally.
First-quarter revenue fell 3.2% from a year earlier, but operating profit rose 0.3%. Net profit came to 103.4 billion won, up 0.4% from the same period a year ago.
Kumho Tire has maintained quarterly revenue above 1 trillion won for 10 consecutive quarters from the fourth quarter of 2023 to the first quarter of this year.
Kumho Tire said results reflected smooth supply of original equipment (OE) tires, centered on North America and Europe, and growth in replacement (RE) tire sales in the first quarter of this year.
A Kumho Tire official said, "Despite worsening conditions such as the U.S. government's tariff imposition, we are maintaining stable revenue and profitability through a strategy focused on new products and high-margin tires."
Among products Kumho Tire sold in the first quarter of this year, high-inch tires of 18 inches or larger accounted for 45.1%. On a global OE revenue basis, electric-vehicle tires made up 20.6%.
Kumho Tire has set this year's targets at a 47% sales ratio for high-inch products and 30% for electric-vehicle tires. Based on this, it aims to achieve 5.1 trillion won in revenue.
Kumho Tire is building a global production system connecting Korea, Europe, and North America by constructing plants in Hampyeong and Europe. Based on this, it plans to focus on securing profitability.