Kumho Tire_Business Report FY2009
Business Highlights
Highlights in FY2009
Financial Overview (Non-consolidated) |
(in millions of won) |
- | FY2009 (ended Dec. 2009) |
FY2008 | Rate of Change |
Remarks |
Sales | 1,894,699 | 2,398,560 | (21.0%) | -Sales of tires totaled 1,829,856 million won, which accounted for 96.6 percent of the Company's overall sales. -Exports made up 61.1 percent of the Company's total revenue. |
Operating income | (213,579) | 36,259 | - | - |
Net income | (776,168) | (200,356) | - | - |
Contracts
-Daimler
The company has been awarded a contract to supply tires for Daimler's large trucks. The tires will be featured on the Mercedes-Benz Actoros large trucks, starting in November 2009. The company has become the first Korean tire manufacturer to be chosen by the Mercedes-Benz commercial vehicle division to supply tires. (From a press release on Nov. 23, 2009)
R&D
R&D Structure
Facility | Location | Overview |
Kumho R&D Center (K.R.D.C) | Gwangju Korea |
-Year established : 1981 -Developing tires for the domestic and global market |
Kumho Tire America Technical Center (K.A.T.C) | Ohio USA |
-Year established : 1990 -Developing tires for the North American OEM market and the aftermarket |
Kumho Tire Europe Technical Center (K.E.T.C) | Birmingham U.K |
-Year established : 1997 -Developing high-performance tires for the European market |
Kumho Tire China Technical Center (K.C.T.C) | Tianjin China |
-Year established : 2006 -Developing high-performance tires for the Chinese and European markets |
The Company held a gala groundbreaking ceremony at the construction site of its new research center in Yong-in, Korea. It plans to spend around 70 billion won in this project, which is scheduled to be completed in late 2009. The new research facility, which will be called the Central Research Center, will function as the Group's development hub, integrating and managing the company's R&D activities conducted inside and outside Korea. The Company also revealed its plan to nearly double by 2015 the number of research staff, which now stands at 600. (From a press release on May 15, 2008)
R&D Expenditure (Non-consolidated) |
(in millions of won) |
- | FY2009 | FY2008 | FY2007 |
Amount | 63,270 | 65,278 | 58,839 |
% of sales | 3.34% | 2.72% | 2.90% |
Investment Activities
Capital Expenditure
-In 2009, the Company invested 65,148 million won in plants and equipment, mainly for increasing production capacity.-In 2010, the Company plans to invest 110,804 million won in plants and equipment, mainly for increasing production capacity.