First-half 2014 results show Bridgestone’s positive development in Europe

In the second quarter of 2014, Bridgestone managed to increase its turnover, and its operating profit even more so. And the figures for Europe were particularly noteworthy and show a continued improvement, even if they remain below company average.

The world’s largest tyre maker reports that in the first half of 2014 its turnover grew three per cent to 1.75 trillion yen (£10.2 billion) while operating profit increased 17 per cent to 223 billion yen (£1.3 billion) with an operating margin of 12.7 per cent. Net income rose 22 per cent to 142.2 billion yen (£826.0 million). In Europe, turnover increased 11 per cent to 228 billion yen (£1.3 billion) and operating profit, after coming in at only 600 million yen (£3.5 million) in the first half of 2013, reached a billion yen (£5.8 million) in the first half of this year and gave a margin of 4.2 per cent (0.3 per cent in the first half of 2013).

In the first quarter of the year Bridgestone already managed to increase its turnover in Europe by 20 per cent and leave behind the minus figures of a year earlier with an operating profit of more than six trillion yen, and achieved an operating margin of 5.6 per cent. Now the company is continuing to develop positively in the second quarter of 2014. The Japanese tyre maker’s total net profit for the latest reporting period was 142 billion yen (£824.8 million), a 22 per cent year-on-year increase.

Additional Bridgestone financial and company information can be found here.