- 8.7% year-on-year increase in revenue supported by solid performance in Europe and North America
- Profitability up due to improved product mix that includes premium OE and high-inch tires
SEOUL, South Korea, April 29, 2026 – NEXEN TIRE, a leading global tire manufacturer, announced its first-quarter financial results today, which include revenue of KRW 838.3 billion and an operating profit of KRW 54.2 billion.
Despite the hostile business environment marked by slowing global demand and ongoing geopolitical risks, NEXEN TIRE achieved its highest-ever quarterly revenue and demonstrated continued growth momentum in key markets.
Sales growth in the first quarter was driven by strong performance in major markets such as Europe and North America. In addition, the recent plant expansion in Europe improved production stability, leading to increased sales from existing customers and more new clients. The company also maintained stable growth in original equipment (OE) sales thanks to its diversified product portfolio, even with the downturn in global automotive demand.
Profitability improved as a result of an enhanced product mix and cost stabilization efforts. In particular, the sales share of high-value-added products such as premium OE tires and tires for SUVs and electric vehicles (EVs) continued to expand, while high-inch tires (18 inches and above) accounted for 40% of total sales. In addition, the company’s efforts to mitigate cost pressures related to raw materials and ocean freight were successful, contributing to an improvement in margins across the board.
Alongside its earnings announcement, NEXEN TIRE also shared information on its business status and strategic initiatives. The company is strengthening its global competitiveness by expanding its product portfolio with new products catered to each region.
In the first quarter, NEXEN TIRE targeted premium demand in the Korean market by launching the high-performance N’FERA Sport and the all-weather N’BLUE 4SEASON 2 following their introduction in Europe and the United States. In Latin America and the Asia-Pacific region, the company introduced the high-efficiency summer tire N’BLUE S while at the same time making efforts to enhance retail competitiveness through partnerships with local distributors.
With current external uncertainties expected to continue into the second quarter, NEXEN TIRE is accelerating the diversification of its global sales structure while maintaining strong growth in key strategic markets such as Australia and Japan.
It is also planning to enhance its distribution competitiveness by expanding regional distribution centers in key markets, and to advance its AI-based virtual development process using the high dynamic driving simulator, which was introduced domestically last year. These efforts will further strengthen the company’s foundation for mid- to long-term growth.
A NEXEN TIRE official stated, “We achieved solid results despite the uncertain business environment. We will continue to respond proactively to market changes while strengthening product competitiveness and operational efficiency to sustain quality growth.”