Hankook sharply reduced profit

In the second quarter of 2025, the net profit of Hankook Tire fell by 44.7% compared to the same period last year and amounted to $130 million, which was due to an increase in raw material and logistics costs, as well as new duties on imports of automotive tire components in the US. Operating profit decreased by 15.8%, to $260 million.

Hankook's sales grew from $1.7 billion to $3.9 billion, and the reason is that starting from the first quarter of 2025, the results of Hanon Systems, the company's subsidiary, which produces automotive thermal management systems, are also taken into account. The Hankook tire division increased its turnover by 8.4%, to $1.8 billion, but operating profit decreased by 17.5%, to $250 million.

In the first half of the year, Hankook increased the share of products with a diameter of 18 inches or more in sales of tires for passenger and light commercial vehicles by 0.6 percentage points, to 47.2%, and in supplies for the primary equipment segment, the share of tires for electric vehicles grew by 7 percentage points, to 24%.

In the second quarter, the company began equipping such cars as the electric crossover Lucid Gravity, as well as the Kia Tasman and EV4 - the first pickup and electric sedan from the Korean brand, respectively, with tires. In addition, the Hankook iON evo tire, developed specifically for electric vehicles, took first place in a specialized test conducted by the German automotive magazine Auto Bild.

Hankook also continues to participate in more than 70 international motorsport competitions, including the Lamborghini Super Trofeo, the World Rally Championship (WRC) and the Formula E series, which it will leave after the completion of the next season.