Nexen Tire posts record quarterly revenue in Q2, but net profit falls to 200 million won amid surging costs

Nexen Tire posted a quarterly record of 891.3 billion won in second-quarter sales, helped by strong premium and high-inch tire demand in Europe and Korea.

But operating and net profit fell as SG&A, raw material and freight costs, U.S. anti-dumping tariff expenses, and deferred tax liabilities from its European unit increased.

North America remained weak, while sales to automakers and brands such as Stellantis, Audi, BMW, and BYD supported the result.

Net income nearly disappeared at just 200 million won, highlighting the pressure tariffs, costs, and taxes are putting on tire makers' profitability.