Quarterly Sales Exceed 1 Trillion Won for Eight Consecutive Quarters
On November 4, Kumho Tire announced in a preliminary disclosure that its operating profit for the third quarter was 108.5 billion won, a decrease of 22.6% compared to the same period last year. Sales recorded 1.1137 trillion won, down 0.1% from the previous year.
The company explained that although sales and operating profit declined due to a fire at the Gwangju plant in May, it performed relatively well despite challenges such as U.S. tariffs and a downturn in the automotive market.
Since the fourth quarter of 2023, Kumho Tire has succeeded in maintaining quarterly sales above 1 trillion won for eight consecutive quarters, and achieved an operating margin of 9.7% thanks to increased sales of premium and high-inch products.
Kumho Tire continues to demonstrate its technological capabilities, having won all four of the world's major design awards this year and achieving excellent results in tests conducted by European automotive magazines such as Autobild. The company is also responding to technological expansion by developing next-generation tire solutions using digital twin technology, as well as smart tires, airborne tires for urban air mobility (UAM), airless tires, and dedicated tires for automated guideway transit (AGT) rail vehicles.
A Kumho Tire representative stated, "We aim to become a global premium brand not only through external achievements, but also by supplying premium products, expanding global distribution, and strengthening brand recognition."
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