NEWS

NEXEN Tyre has announced its financial results for the first quarter of 2026, reporting revenue of KRW 838.3 billion and operating profit of KRW 54.2 billion.

Revenue increased 8.7% year-on-year, supported by strong performance in key markets including Europe and North America. The company achieved its highest quarterly revenue to date, despite ongoing global demand slowdown and geopolitical uncertainties.

Growth was supported by increased sales in Europe following the expansion of production capacity, which improved supply stability and enabled both stronger demand from existing customers and new customer acquisition.

Original equipment (OE) sales remained stable, supported by a diversified product portfolio, even amid weaker global automotive demand.

Profitability improved due to a shift toward higher-value products, including premium OE tyres and products for SUVs and electric vehicles. High-inch tyres (18 inches and above) accounted for approximately 40% of total sales.

The company also noted continued efforts to manage raw material and freight-related cost pressures, contributing to margin improvement.

In the first quarter, NEXEN Tyre expanded its regional product strategy, introducing models such as N’FERA Sport and N’BLUE 4SEASON 2 in the Korean market following their rollout in Europe and the United States. In Latin America and Asia-Pacific, the company introduced the N’BLUE S to support demand in high-temperature markets.

NEXEN Tyre stated that it will continue to diversify its global sales structure while focusing on key growth markets including Australia and Japan.

The company is also expanding regional distribution networks and continuing development of its AI-based virtual tyre development system using its high dynamic driving simulator.

A NEXEN Tyre official said, “We achieved solid results despite a challenging market environment. We will continue to strengthen product competitiveness and operational efficiency to support sustainable growth.”