Hankook Tire Co. Ltd. posted global consolidated sales of 1.64 trillion won for its first quarter of 2017, slightly more than the year-ago period when sales were 1.63 trillion won.
Based on the exchange rate, sales in the first quarter totaled $1.4 billion, according to the company.
Operating income was $231 billion won versus $251.1 billion won in the year-ago quarter. The company did not release net income.
The company says sales of ultra high performance tires were up 1.4% year-over-year and accounted for 36.7% of total sales in the first quarter of 2017.
Sales of ultra high performance tires sales showed an 11% and a 26% year-over-year increase in Europe and China, respectively. Hankook says the sales growth in both regions was mainly driven by the increased supply of original equipment tires and the stabilized sales of replacement tires.
Hankook plans to strengthen its premium brand value by expanding sales of ultra high performance tires and 17-inch or taller-size tires.
For more information about Hankook and its products, visit www.hankooktire.com.