Revenue fell 3.2% to 1.1678 trillion won, while net profit increased 0.4% to 103.4 billion won.
The company said quarterly revenue topped 1.1 trillion won, supported by strong supplies of original equipment tires for new vehicles in North America and Europe and solid sales of higher-margin replacement tires. It has kept quarterly revenue above 1 trillion won for 10 straight quarters since the fourth quarter of 2023.
In the first quarter, tires 18 inches and larger accounted for 45.1% of sales. EV tires made up 20.6% of global original equipment revenue, the company said.
Kumho Tire has set targets for this year of 5.1 trillion won in revenue, a 47% share for 18-inch-and-larger tires, and a 30% share for EV tire supplies.
The company said it plans to build a global production network linking Korea, Europe and North America by expanding plants in Hampyeong and constructing a factory in Europe, aiming to grow its market presence and improve profitability.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.