Hankook & Company Co., Ltd., the business-type holding company of Hankook & Company Group, said on the 13th that, on a consolidation basis for the first quarter of this year, revenue and operating profit came to 378.4 billion won and 121.7 billion won, respectively. That was down 2.7% and 4.1% from a year earlier. However, compared with the fourth quarter of last year, they rose 11.2% and 64.9%.
A Hankook & Company official said, "In the battery business, both revenue and operating profit edged down year over year due to higher raw material prices and logistics costs, but the premium product AGM battery (high-performance lead-acid battery) is maintaining stable growth."
The official added, "Following the solid performance trend of core affiliate Hankook Tire & Technology, Hankook & Company's equity-method gains increased from a year earlier." Hankook Tire posted first-quarter operating profit of 507.0 billion won, up 43.0% from a year earlier. Revenue was 5.3139 trillion won, up 7.1%.
Hankook & Company projected that management uncertainty will persist for the time being due to geopolitical risks and intensifying conflicts among major countries. To overcome this environment, the lead-acid battery business plans to flexibly respond to market changes by expanding sales centered on AGM batteries, improving portfolios by region, and securing new customers, based on the competitiveness of the "Hankook" family brand.
It also plans to focus on group-level growth strategies and strengthening brand synergy as a business-type holding company. A Hankook & Company official said, "To enhance the competitiveness of major affiliates and establish a foundation for sustainable growth, we will expand the holding company's core role, including business portfolio management, integrated brand strategy, and discovering future growth drivers."