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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] Kumho Tire said on the 29th that it posted a tentative performance of 1.445 trillion won in consolidated sales and 145.6 billion won in operating profit in the first quarter of 2024.
Sales in the first quarter reached the highest performance in the first quarter within 10 years, growing 4.6 percent year-on-year through increased supply of new car (OE) tires and combined growth in the replacement tire market, including high-yield tires. Operating profit grew 167.0 percent year-on-year due to improved mix centered on high-yield products and stabilizing global prices.
Kumho Tire has proposed business guidance, setting this year's target sales at KRW 4.56 trillion, achieving 42% of sales of high-inch products over 18 inches, and securing more than 16% of EV tires based on global OE sales. As a result of the first quarter, sales of high-inch products reached 41.2%, and the proportion of EV tire OE increased by 12% from 9% last year due to the expansion of new models (Kona EV, Santa Fe HEV, etc.).
This year, Kumho Tire will launch 'EnnoV', a brand exclusively for electric vehicles, and drive into the premium market. Starting with the Inovy premium released in March, Inovy Winter and Inovy Supermile will be released as new products in the second half of the year, and will also introduce new premium products such as Majesty X to improve its profitability-oriented product portfolio.
In addition, as the Vietnamese plant, which was expanded last year, enters the final stage of operational stabilization, it is expected to expand global tire production capacity and increase efficiency along with increased production.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
