Hankook Tire Accelerates with High-Inch and EV Tires... Operating Profit Soars 58% in Q2

Sales Reach 5.6824 Trillion Won, Operating Profit at 559 Billion Won
Record-High Revenue in Tire Segment

Hankook Tire & Technology achieved its highest-ever quarterly sales in the second quarter of this year, driven by the expansion of sales of high value-added products such as high-inch and electric vehicle-exclusive tires. Operating profit also surged by 58% year-on-year, greatly improving profitability.

Hankook Tire & Technology (hereafter referred to as Hankook Tire) announced on August 11, 2026, that, on a global consolidated basis, it recorded sales of 5.6824 trillion won and operating profit of 559 billion won for the second quarter of 2026. Sales increased by 5.8% and operating profit by 58.1% compared to the same period last year. Compared to the previous quarter, sales rose by 6.9% and operating profit by 10.3%.

The improvement in the tire segment was particularly notable. Tire segment sales reached 2.8073 trillion won, up 11.8% from a year earlier, and operating profit increased by 39.5% to 483.2 billion won. The operating margin also rose by 3.4 percentage points to 17.2%, compared to 13.8% in the same period last year.

The increase in the sales proportion of high value-added products, especially high-inch tires of 18 inches or above and electric vehicle-exclusive tires, was the main contributor to this performance. In the second quarter, 49.5% of sales of passenger car and light truck tires were from high-inch products of 18 inches or above. Electric vehicle-exclusive tires accounted for 31.8% of new vehicle (OE) tire sales for passenger cars and light trucks.

These figures are approaching Hankook Tire’s annual targets of a 51% share for high-inch tires and 33% for electric vehicle-exclusive tires. With a product portfolio shift towards high-profit products, the company is not only increasing sales volume but also enhancing profitability.

By region, the expansion of new vehicle tire supply and robust demand for replacement (RE) tires continued in both the European and Chinese markets. In China, in particular, the spread of electric vehicles led to an increased replacement cycle for EV tires, resulting in higher RE tire sales.

The supply of new vehicle tires to premium vehicle manufacturers also expanded. In the second quarter, Hankook Tire supplied new vehicle tires for the Porsche 911 Carrera, as well as for Audi's flagship SUVs, the Q7 and Q9, and Nissan’s premium brand Infiniti’s all-new QX65, widening its presence in the premium and SUV segments.

The company’s electric vehicle-exclusive tire brand, iON, is also becoming a key pillar in its global electrification strategy. Hankook Tire is applying the technology and data it has accumulated through the FIA Formula E World Championship to develop iON products. The company also cited accolades such as the Red Dot Design Award for Product Design and the top ranking in Germany’s Auto Bild tire test as evidence of its product competitiveness.

The company is accelerating its efforts to secure advanced technology through motorsports. Hankook Tire supplies racing tires to more than 70 motorsports events worldwide, including the FIA World Rally Championship (WRC) and Lamborghini Super Trofeo. The company’s strategy is to leverage the driving data gained in extreme environments not only for internal combustion vehicles but also for developing tires for electric and next-generation mobility vehicles.

Hanon Systems, the thermal management division included in the consolidated results, also showed continued improvement. In the second quarter, Hanon Systems recorded sales of 2.8752 trillion won, a 0.6% increase from the same period last year, and operating profit rose by 61.2% to 103.7 billion won. The operating margin was 3.6%, up 1.4 percentage points from 2.2% a year earlier, and net profit turned positive.

Hankook Tire is also working to expand its global production capacity through the expansion of its factories in Tennessee, United States, and Hungary, Europe. The company plans to strengthen its competitiveness in the global market by responding to demand in major markets such as Europe and the US, while also increasing the supply of new vehicle tires to premium vehicle manufacturers.

This content was produced with the assistance of AI translation services.