PRESS ROOM

Kumho Tire, one of the world’s leading tire manufacturers, today 

announced its consolidated operating results for 2024, reporting sales of 3.3 billion dollars and an operating profit of KRW 588.6 billion. These figures represent a 12.1% increase in sales and a 43.2% rise in operating profit compared to the previous year.

▶Last year, the company posted 3.3 billion dollars in sales and 429 million dollars in operating profit ￚ the highest ever in its history.

▶It has set a goal of over 10% sales growth to 3.8 billion dollars for this year, with a strong focus on profitability.

In the fourth quarter of 2024, the company recorded sales of 886 million dollars (108 million dollars in operating profit), marking a 17% year-on-year growth. Notably, Kumho Tire has maintained quarterly sales exceeding 630 million dollars  for five consecutive quarters since the fourth quarter of 2023.

Despite challenges posed by the global economic downturn and a sluggish automotive market last year, the company achieved steady growth in both the global original equipment (OE) and replacement (RE) tire segments. Sales were particularly strong in key markets such as the U.S. and Europe. In addition, Kumho Tire improved profitability by prioritizing highly value-added products, diversifying sales networks and optimizing supply chains to ensure a stable revenue stream.