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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] SEOUL, November 4 (local time) — Kumho Tire Co., Inc. announced its third-quarter consolidated earnings, reporting revenue of ₩1.1137 trillion and an operating profit of ₩108.5 billion.
The company said its third-quarter sales were supported by increased demand for high-value-added products in major markets such as North America and Europe, as well as expanded supply of original equipment (OE) tires to global automakers. Strong sales of premium and high-inch tire products boosted its operating margin to 9.7%.
However, revenue edged down 0.1% year-on-year, while operating profit declined 22.6%, largely due to a fire at its Gwangju plant in May, combined with U.S. tariffs and sluggish global automotive demand in the second half of the year.
Despite these challenges, Kumho Tire maintained solid performance across key global regions. Driven by new product launches centered on high-inch tires and increased supply to strategic vehicle models, sales in North America rose 19.9% year-to-date from a year earlier, while Europe and China posted gains of 9.3% and 2.1%, respectively.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
