Hanon Systems a Hankook Company

SEOUL, South Korea, April 30, 2026 – Hanon Systems, a leading global automotive thermal management supplier and a subsidiary of Hankook & Company Group, today announced its financial results for the first quarter of 2026.

In the first quarter of 2026, Hanon Systems recorded consolidated revenue of KRW 2.75 trillion, continuing its growth compared to KRW 2.62 trillion in the same period last year and KRW 2.70 trillion in the previous quarter. Operating profit totaled KRW 97.2 billion, representing a significant year-on-year improvement.

These results were driven by successful company-wide operational improvements implemented following the acquisition by Hankook & Company Group. The company has maintained an operating margin above 3% since the second half of last year. This momentum continued in the first quarter of 2026, when the company achieved an operating margin of 3.5%, supported by improved cost of sales ratio and enhanced operational efficiency.

The electrified vehicle (xEV) segment, a key growth driver, accounted for 29% of total revenue, approaching the 30% milestone. This reflects the company’s flexible response to the demand across internal combustion engine (ICE) and hybrid electric vehicle (HEV) models, as well as newly launched battery electric vehicles (BEV) as the global electrification momentum adjusts. In 2026, the company expects further revenue growth supported by increasing electrification and hybrid demand from European customers.

Building on its hardware expertise, Hanon Systems is strengthening its AI-based integrated thermal management solution capabilities to address the era of Software-Defined Vehicles (SDVs).  Leveraging its full-line portfolio covering ICE to fuel cell electric vehicles, the company plans to enhance its technological competitiveness by introducing intelligent solutions that maximize energy efficiency through AI integration.

“Despite external uncertainties, including the impact of tariffs last year, we focused on improving our corporate fundamentals through company-wide operational efficiency and cost structure improvements, driving continued performance improvement,” said Soo-Il Lee, Vice Chairman and CEO of Hanon Systems.

“Leveraging our accumulated thermal management expertise, we will accelerate qualitative growth through future new businesses such as AI-based integrated thermal management solutions, while securing long-term financial stability and reinforcing our technological leadership in the global market.”