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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] Nexen Tire Achieves Record Quarterly Sales Driven by Strong European Performance
Nexen Tire reported its highest-ever quarterly sales, totaling 763.8 billion won for Q2, with an operating profit of 62.9 billion won, marking increases of 10.5% and 69.5% respectively from the previous year.
The company’s robust performance was largely due to increased sales volumes and a focus on high-value products. Notably, strong demand in Europe, particularly in the winter tire segment, contributed significantly, as pre-orders for winter tires before the peak season and expanded supply of original equipment (OE) tires played key roles.
The improvement in operating profit was attributed to the stabilization of operations at the company's European plant and a higher proportion of high-inch tires, along with effective management of raw material and logistics costs.
Looking ahead, Nexen Tire anticipates further growth with the ongoing ramp-up of production at its recently opened European plant, which is expected to enhance the company's performance in the latter half of the year. However, potential challenges such as fluctuating raw material costs and logistical disruptions could impact future results.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
