[Edaily Reporter Kim Hyung-wook ] KUMHOTIRECO.,INC increased its revenue and operating profit in the third quarter of this year, driven by expanded sales in the North American and European markets and a rise in sales of high-value-added tires.

KUMHOTIRECO.,INC announced on the 29th that it recorded consolidated revenue of 1.2374 trillion won and operating profit of 130.5 billion won in the third quarter. Compared to the same period last year, revenue rose 11.1% and operating profit increased 20.3%. The operating profit margin also rose to 10.5%, up 0.8 percentage points from the same period last year.

Sales of original equipment (OE) tires and replacement (RE) tires grew evenly, particularly in North America and Europe. The company explained that expanded sales of high-value-added products, such as high-inch tires and tires for electric vehicles, also contributed to improved profitability. Quarterly revenue has exceeded 1 trillion won for 12 consecutive quarters since the fourth quarter of 2023.

However, compared to the previous quarter, revenue fell by 7.2% and operating profit by 28.4%. In the second quarter of this year, revenue was 1.3328 trillion won, and operating profit was 182.2 billion won.

Cumulative revenue for the first three quarters totaled 3.738 trillion won, while operating profit reached 459.7 billion won. These figures represent increases of 5.6% and 6.8%, respectively, compared to the same period last year.

On a cumulative basis through the third quarter, the sales share of high-inch products (18 inches and larger) reached 47.0%, meeting the company’s annual target. Electric vehicle tires accounted for 24.6% of global sales of tires for new vehicles.

KUMHOTIRECO.,INC aims to achieve annual revenue of 5.1 trillion won and a 30% share of EV tire supply this year. In particular, the company seeks to boost revenue and profitability through the launch of new premium products, expanded sales of large-inch products, and region-specific sales strategies. It also plans to continue addressing cost burdens resulting from U.S. tariff policies and conflicts in the Middle East.

A KUMHOTIRECO.,INC official stated, “We will strengthen our global production base by moving forward with the construction of the Hampyeong plant and our European plant, and we will work to expand market share and improve profitability by focusing on high-margin products.”