Record-Breaking First-Quarter Sales Surpass 1.2 Trillion Won
Operating Profit Slightly Decreases, but Double-Digit Margin Maintained
Growth Driven by Expansion in High-Profit and EV Tire Markets
Sales Target Set at 5 Trillion Won for the Year
Plans to Strengthen Premium Market Presence with New Ultra-High-Performance Tires
Global Production Capacity to Expand to 65 Million Units
Europe Plant Considered, with Poland, Portugal, and Serbia as Candidates
Kumho Tire achieved record-breaking first-quarter sales this year, surpassing 1.2 trillion won and marking its highest-ever first-quarter revenue.
On April 29, Kumho Tire announced that its consolidated sales for the first quarter of 2025 reached 1.2062 trillion won, with an operating profit of 144.8 billion won. Compared to the same period last year, sales increased by 15%, while operating profit decreased by 0.6%. The operating margin remained in the double digits at 12%.
Kumho Tire explained that the increase in first-quarter sales was the result of expanded supply of original equipment (OE) tires for new vehicles, combined with growth in the replacement (RE) tire market, particularly for high-profit tires. With this, Kumho Tire has achieved sales in the 1 trillion won range for six consecutive quarters.
Kumho Tire has set its sales target for this year at 5 trillion won, aiming to achieve a 46% share of sales from products 18 inches and above, and to secure a share of 26% or more for electric vehicle (EV) tires among global OE sales.
As of the first quarter, sales of high-inch products reached 42.6%, and the share of EV tire OE supply rose to 17.9% as the company expanded supply to new vehicle models.
Jiltak Jung, CEO of Kumho Tire, is presenting this year's business plan at the high-performance tire new product launch event held on the 15th. Photo by Kumho Tire
This year, Kumho Tire plans to strengthen its presence in the premium market and improve profitability by launching ultra-high-performance tires such as the Solus Advance (SOLUS ADVANCE), Ecsta Sport S (ECSTA SPORT S), Ecsta Sport (ECSTA SPORT), and Ecsta Sport A/S (ECSTA SPORT A/S).
Additionally, Kumho Tire intends to expand its global tire production capacity to 65 million units this year by improving the efficiency of its eight global plants located in Korea, China, the United States, and Vietnam, as well as by securing additional facility space.
Kumho Tire is considering establishing a new plant in Europe, with Poland, Portugal, and Serbia being mentioned as strong candidates.
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