Hankook has summed up the results of the first quarter of 2025

Hankook has released its consolidated financial results for the first quarter of 2025, with sales of $3.46 billion (up from $1.6 billion in the first quarter of 2024) and operating profit of $244.1 million (down from $300.1 million a year earlier).

In the first quarter of 2025, Hankook's results for the first time included the financial performance of recently acquired Hanon Systems, a manufacturer of automotive climate control systems. With the acquisition of new assets, Hankook entered the list of the 30 largest corporations in South Korea.

In the tire sector, Hankook's sales for the first three months of the year were $1.7 billion, up 10.3% compared to the same period in 2024, while operating profit decreased by 16.3% to $230 million. Hankook notes that in the face of uncertainties in the global economy, the increase in raw material and shipping costs had a negative impact on profits, but despite this, the company continues to invest in scientific research, including in the field of technologies for future mobility.

In January-March 2025, the share of products with a diameter of 18 inches or more in Hankook's total sales of passenger car tires increased by 0.3 percentage points to 47.1%. This figure was highest in China (64.7%), followed by South Korea (58.5%), North America (57.1%), and Europe (39.1%). In the original equipment segment, the share of passenger and light truck tires for electric vehicles was 23%, up 6 percentage points.

"The revenue growth was driven by an increase in sales of high-value products, made possible by the expansion of supplies of tires for premium-class vehicles and increased demand for electric vehicle tires," the company says.

In 2025, Hankook began supplying Hankook Ventus evo SUV tires for the third-generation Volkswagen Tiguan crossover, and the company currently collaborates with 50 automakers and equips over 280 vehicle models with tires, including the Mercedes-AMG GT Coupe and BMW M5.

Hankook is also a tire supplier for electric vehicles from leading global brands such as Porsche, Audi, BMW, Hyundai, Kia, Tesla, BYD, and Lucid. In 2022, Hankook became the first company to release a full line of tires for electric vehicles - iON, which now includes over 300 tire sizes with diameters from 16 to 20 inches.