PRESS ROOM

Ø  Kumho Tire announced USD 860 mil. in sales and USD 105 mil. in operating profit on a consolidated basis.

Ø  With a 15.5% year-on-year increase in first-quarter sales, the company appears to be on track to achieving its 2025 sales target.

 

Kumho Tire has announced its financial results for the first quarter of 2025, reporting sales of USD 860 mil. and an operating profit of USD 105 mil. on a consolidated basis.

 

This marks a 15.5% year-on-year increase in sales, driven by the expanded supply of original equipment (OE) tires and growth in the replacement (RE) tire market, particularly in high-profitable segments. The company achieved its highest ever first-quarter performance, surpassing USD 714 mil. in quarterly sales for the sixth consecutive quarter since the fourth quarter of 2023. Operating profit reached 12%, supported by strong sales of premium and high-inch tires.

 

For 2025, Kumho has set a sales target of USD 3.3 Billion., with strategic goals that include achieving a 46% sales ratio for high-inch products (18 inches and above) and securing at least a 26% share of EV tires in global OE sales. In the first quarter, high-inch products accounted for 42.6% of total sales, while the OE supply ratio for EV tires reached 17.9%, aided by expanded supply to new vehicle models.

 

In addition, Kumho Tire plans to expand its annual production capacity to 65 million units in 2025. This growth will be driven by efficiency improvements and the additional productivity at its eight global manufacturing facilities in Korea, the United States, Vietnam and China. The company is also exploring the establishment of a new plant in Europe, with Poland, Portugal, and Serbia currently topping the list of potential candidates.

 

Designating 2025 as the starting point of its transition to a premium brand, Kumho Tire aims to drive high-value innovation across its brand, products, technology, and operations to strengthen its global market position and deliver greater value to customers worldwide.