Hankook Tire & Technology Co Ltd (161390) Q3 2026 earnings summary

Executive summary

• Q3 2026 consolidated revenue was KRW 5,465.0bn, operating profit KRW 598.8bn and operating margin 11.0%; net income was KRW 157.9bn.

• Tire revenue reached a quarterly record; Thermal Management operating profit rose 26.6% YoY and margin improved despite lower revenue.

Financial highlights

• Q3 consolidated income before tax was KRW 2,278 (KRW 100m); Thermal Management recorded a KRW 1,551 (KRW 100m) pre-tax loss.

• 9M revenue was KRW 164,615 (KRW 100m), operating profit KRW 16,649 (KRW 100m), EBITDA KRW 27,457 (KRW 100m) and net income KRW 847.6bn.

• 9M gross profit was KRW 3.853tn and pretax income KRW 1.183tn; 9M 2025 comparatives were KRW 3.358tn and KRW 1.182tn.

• Cash and equivalents were KRW 2.632tn at Sept. 30; 9M operating cash flow was KRW 1.342tn, investing cash outflow KRW 1.138tn and financing cash outflow KRW 101.9bn.

Outlook and guidance

• 2026 Tire targets: revenue growth above global tire market CAGR, operating margin above the 5-year average and annual EBITDA above KRW 2tn.

• 2026 Tire mix goals: ≥18-inch tires at least 51% of PCLT revenue and EV tires at least 33% of PCLT OE sales; 2026 YTD reached 49.4% and 32.3%.

• Tennessee and Hungary plants target full capacity by early 2027 and end-2Q27; ramp-up is expected to support scale benefits and local supply responsiveness.

• Thermal Management growth plans focus on customer retention, new markets and differentiated technology, alongside CAPEX and R&D optimization and debt reduction.