On a consolidated basis, Nexen Tire posted sales of 1.72 trillion won last year, up 1.3 percent from a year ago, with its operating profit estimated at 177 billion won. Its operating profit-to-sales ratio stood at 10.2 percent.
A Company official said, “The reason we hold the general shareholders’ meeting earlier than others is our desire to bring the fruits of the management faster to the shareholders.”
By business area, RE (replacement tires)-related sales fell 3.0 percent year on year but OE (tires for new cars) sales jumped 29.1 percent thanks to an increase in supplies to complete car makers in and outside Korea.
During the shareholders meeting, Nexen Tire resolved to pay out cash dividends of 65 won per 1 ordinary share and 70 won per 1 preferred share.
