Kumho Tire Co., Inc. · KRX:073240
Kumho Tire — Q3 2024 Earnings Presentation
12 slides from Kumho Tire's earnings presentation, November 2024
Slide 1: KUMHO TIRE 3Q 2024 Earnings Release
KUMHO TIRE 3Q 2024 Earnings Release
Slide 2: Disclaimer
Disclaimer This document's financial and operating information has been prepared under the Korea International Financial Reporting Standards (K-IFRS). The business performance and financial results included herein are provided solely for the convenience of investors and reflect the preliminary finan
Slide 3: 1. Financial Results
1. Financial Results - While demand continued to soften in the global auto market, demand rose for the RE tire segment. - Kumho Tire’s 3Q 2024 sales stood at KRW 1.12 tn (+14.1% YoY), driven by growth in RE (+13% YoY) and OE (+19% YoY). - Operating profit reached KRW 140.2 bn (+KRW 44 bn YoY, +45.7%
Slide 4: 1. Financial Results (Sales by Region) - Korea, North America
1. Financial Results (Sales by Region) Korea North America (KRW bn) (KRW bn) 50.1% 49.0% 48.2% 48.9% 46.9% 47.3% 47.6% 47.3% 44.9% 45.6% 365 266 324 332 321 318 218 209 205 205 '23.3Q '23.4Q '24.1Q '24.2Q '24.3Q '23.3Q '23.4Q '24.1Q '24.2Q '24.3Q Sales Above 18'' PC/LTR Sales Above 18'' PC/LTR [ OE
Slide 5: 1. Financial Results (Sales by Region) - Europe, China
1. Financial Results (Sales by Region) Europe China (KRW bn) (KRW bn) 32.5% 32.1% 52.9% 29.5% 45.7% 26.9% 27.0% 41.7% 42.5% 320 39.1% 278 281 257 89 93 217 78 79 73 '23.3Q '23.4Q '24.1Q '24.2Q '24.3Q '23.3Q '23.4Q '24.1Q '24.2Q '24.3Q Sales Above 18'' PC/LTR Sales Above 18'' PC/LTR [ OE ] [ OE ] • S
Slide 6: 2. 3Q 2024 Business Outlook
2. 3Q 2024 Business Outlook √ Sales Target: KRW 4.56 tn → YTD 3Q: KRW 3.29 tn (72% achieved) • 2023 Consolidated Sales: KRW 4.04 tn → 2024 Sales Target: KRW 4.56 tn • YTD 3Q 2024 Sales: KRW 3.29 tn → 72% achieved √ Large-Diameter Product Sales Ratio Target: 42% → YTD 3Q: 41.8% achieved • Sales ratio
Slide 7: Appendix (Global Production Capacity)
Appendix (Global Production Capacity) • 62.5 million tires across 8 plants with strong quality and cost competitiveness ※ Southeast Asia Production: Maximizing capacity to support sales in North America, the largest tire market, while enhancing customer value and sustainability ▣ CAPA Growth Unit :
Slide 8: Appendix (Raw Materials Prices)
Appendix (Raw Materials Prices) Raw Material Trends 1) Natural Rubber (↑ 2Q ‘24: $1,683/ton → 3Q ‘24: $1,756/ton) Others N/R : SICOM (futures market indicator) rose, driven by reduced production in Southeast 20.9% 22.7% Asia and optimism over China’s stimulus package. Raw 2) Synthetic Rubber (↑ 2Q ‘
Slide 9: Appendix (Freight Index)
Appendix (Freight Index) Global SCM Logistics and Business Freight Costs • Global/Domestic SCM Logistics Freight rates eased in 3Q following a surge in 2Q. With the continued supply of new large vessels in the second half, rates are expected to decrease further through 4Q. • Business Freight Costs i
Slide 10: Appendix (Financial Positions)
Appendix (Financial Positions) Assets Liabilities Equity (KRW bn) (KRW bn) (KRW bn) Current ratio Debt ratio Equity ratio 106.1% 101.9% 277.2% 245.3% 33.3% 75.3% 199.9% 29.0% 26.5% 5,045 4,695 4,831 3,450 3,432 3,363 1,682 1,399 1,245 '22 '23 '24.3Q '22 '23 '24.3Q '22 '23 '24.3Q Interest-Bearing Deb
Slide 11: Appendix (Growth Factors)
Appendix (Growth Factors) CAPA Expansion Driving Profit Growth Increased R&D Investment • Plant expansions have increased CAPA and utilization rates. • Steady growth in R&D investment over the past 5 years • Improved productivity and cost competitiveness have • Enhanced brand image through advanceme
Slide 12: KUMHO TIRE
KUMHO TIRE