- Growth Driven by European Plant Expansion and Region-Specific Strategies
SEOUL, South Korea, Jul 30, 2025 – NEXEN TIRE, a leading global tire manufacturer, today announced its financial results for the second quarter of 2025, posting consolidated revenue of KRW 804.7 billion and operating profit of KRW 42.6 billion. This marks the second consecutive quarter in which the company has achieved a record high in quarterly revenue, reinforcing its strong growth trajectory.
The robust performance in Q2 was primarily driven by increased production capacity following Phase 2 of its European plant in the Czech Republic, alongside the effective execution of region-specific sales strategies. Despite continued uncertainties in the global automotive sector, NEXEN TIRE secured key supply volumes in advance, resulting in balanced growth across both original equipment (OE) and replacement (RE) segments.
In the United States, sales strengthened further in the second quarter, building on the recovery that began in the first quarter after a temporary slowdown in the company’s sales in the second half of 2024. Growth was supported by the expansion of newly secured retail distribution channels. Meanwhile, in the Asia-Pacific region, Australia and Japan achieved record sales volumes, driven by continued investment in distribution network development.
Operating profit remained stable quarter-over-quarter. While ocean freight costs offered relief, elevated raw material prices late last year continued to exert pressure on margins. However, with the input costs of key raw materials trending downward since early 2025, the company expects a positive impact on profitability in the second half of the year.
NEXEN TIRE continues to build brand awareness through localized marketing efforts in key markets, including North America, Europe, the Middle East, and Asia-Pacific, while also expanding its retail footprint through strategic partnerships with regional distributors.
In the first half of 2025, NEXEN TIRE began supplying OE tires for 11 vehicle models, including the Hyundai NEXO, Kia EV4 and TASMAN, and deepened collaboration with global
automakers, including premium brands.
In response to recent U.S. tariff policy changes, NEXEN TIRE will implement gradual price adjustments in the U.S. market. To mitigate profitability risks, the company will focus on expanding its high-margin product portfolio and reallocating global supply volumes strategically. Real-time monitoring of trade developments and flexible response mechanisms remain in place as bilateral negotiations evolve.
“Despite persistent macroeconomic challenges, NEXEN TIRE achieved record-breaking sales for two consecutive quarters by maintaining balanced growth across both OE and RE segments,” said John Bosco (Hyeon Suk) Kim, CEO of NEXEN TIRE. “We will continue to reinforce our global competitiveness through strategic partnerships and region-specific initiatives.”