Tag: financials

Hella: EBIT up 21% in FY2016-17

Hella: EBIT up 21% in FY2016-17

Tuesday 22nd August 2017 | 0 Comments

Original equipment supplier and established aftermarket player Hella has reported what it calls an “extremely successful” financial year. During the 12 months to 31 May 2017, the company lifted both its earnings and profitability.

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Raw materials, tyre imports hammer JK Tyre in April-June quarter

Raw materials, tyre imports hammer JK Tyre in April-June quarter

Tuesday 22nd August 2017 | 0 Comments

“We are indeed passing through challenging times.” These were the words from Dr Raghupati Singhania after JK Tyre & Industries Ltd. released its final results for the first quarter of its 2017-18 financial year. Nevertheless, the chairman and managing director is confident that the company’s performance will improve moving forwards.

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Early start to summer tyre season hold back Delticom’s sales in Q2 2017

Early start to summer tyre season hold back Delticom’s sales in Q2 2017

Wednesday 16th August 2017 | 0 Comments

Revenues at online tyre retailer Delticom amounted to 169.3 million euros in the three months to 30 June 2017, a 0.6 per cent increase on the revenues obtained in the second quarter of last year. This weak rise in sales follows a 19.9 per cent jump in revenues to 126.8 million euros in the first three months of the year; Delticom comments that sales were up in the first quarter year as the weather in March 2017 favoured an early start to the summer tyre season, pulling sales away from the second quarter. For the first half of the year, sales were up 8.0 per cent year-on-year to 297.1 million euros.

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Nexen Tire: Sales up 4.2% in Q2 2017, material costs hit profit

Wednesday 16th August 2017 | 0 Comments

On the back of higher volumes, Nexen Tire reports t its net sales in the second quarter of 2017 rose 4.2 per cent year-on-year to KRW 514.1 billion (£350.4 million). Operating profit was, however, impacted by the high costs of raw materials in the first half of this year and fell 37.4 per cent to KRW 43.6 billion (£29.7 million). The operating margin decreased by 4.0 percentage points year-on-year to 7.8 per cent.

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Bridgestone earns less in Q2 2017

Tuesday 15th August 2017 | 0 Comments

In the second quarter of the current financial year, Bridgestone was able to increase its turnover, however its profit figures took a tumble. The tyre maker reports a six per cent rise in net sales to 891 billion yen (£6.3 billion) in the three months to 30 June 2017. Operating profit declined seven per cent to 99 billion yen (£695.7 million), with the operating margin contracting by 1.6 percentage points to 11.1 per cent. Net profit decreased by eight per cent, also to 99 billion yen.

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Hankook Tire outperforms European market in Q2 2017, global sales, profit lower

Hankook Tire outperforms European market in Q2 2017, global sales, profit lower

Monday 14th August 2017 | 0 Comments

At KRW 1.667 trillion (£1.1 billion), Hankook Tire’s global sales in the second quarter of 2017 were 3.5 per cent lower than those in the corresponding period of last year. Operating profit for the three months to 30 June 2017 amounted to KRW 203.7 billion (£136.8 million), down 34.4 per cent year-on-year. Hankook Tire mainly attributes this decline in operating profit to increased raw material prices. EBIDTA was down 18.6 per cent year-on-year to KRW 352.7 billion (£236.9 million), and the margin declined from 25.1 per cent to 21.2 per cent.

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Arlanxeo sales up 25% in Q2 2017, EBITDA lower

Friday 11th August 2017 | 0 Comments

Lanxess reports that sales in the Arlanxeo business segment rose 24.6 per cent year-on-year to 835 million euros. EBITDA pre-exceptionals decreased 3.0 per cent to 92 million euros; the speciality chemical company says increases in energy costs “in particular stood against the success in passing on increased raw material costs.” EBITDA margin pre-exceptionals was 11.0 per cent, against 14.2 per cent a year earlier.

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Stamford Tyres: Profit more than trebled in FY2017

Stamford Tyres: Profit more than trebled in FY2017

Friday 11th August 2017 | 0 Comments

Singapore-based tyre distributor Stamford Tyres Corporation Limited has reported a 213.6 percent year-on-year increase in net profit for the 2017 financial year, which ended on 30 April 2017; compared with 2015, net profit last year was up 376.5 per cent. This profit of S$8.1 million (£4.6 million) was accompanied by a gross margin of 26.2 per cent, up from 24.7 per cent in 2016 and 22.1 per cent in 2014. Total revenue for 2017 was $235.8 million (£133.1 million), 1.7 per cent lower than the previous year. Revenue derived from the distribution of tyres and wheels accounted for 87.2 per cent of total revenue while wheel manufacturing accounted for 12.8 per cent.

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Yokohama Rubber: Sales and earnings up in H1 2017

Thursday 10th August 2017 | 0 Comments

Yokohama Rubber delivered its shareholders good news today upon reporting a 38.7 per cent year-on-year increase in profit attributable to owners of parent in the first half of 2017, with profit amounting to 11.4 billion yen (£79.8 million). Operating income during the six months to 30 June rose 16.8 per cent to 18.4 billion yen (£128.8 million), while net sales increased 15.9 per cent to 310.8 billion yen (£2.2 billion).

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SRI: Tyre income down 36% in Q2 2017

Tuesday 8th August 2017 | 0 Comments

For the second quarter of 2017, Sumitomo Rubber Industries has reported sales of 403,777 million yen (£2.8 billion), a 12.4 per cent year-on-year increase. Operating income during the three months to 30 June declined 27.1 per cent to 21,236 million yen (£147.0 million), while net income, at 12,429 million yen (£86.0 million), was down 31.0 per cent year-on-year.

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Kumho Tire profits drop 26% in Q2 2017

Tuesday 8th August 2017 | 0 Comments

Decreased demand from major markets has caused led to lower net profit at Kumho Tire in the second quarter of the year. Yonhap News reports that in the three months to 30 June, the South Korean tyre maker achieved consolidated net profits of Krw 195 billion (£132.5 million), 26.4 per cent less than a year earlier. Operating profit fell 34.4 per cent year-on-year to Krw 204 billion (£138.6 million).

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Cooper Tire & Rubber: Sales stable, net income down 37% in Q2 2017

Tuesday 8th August 2017 | 0 Comments

While unit volumes and net sales at Cooper Tire & Rubber remained little unchanged compared with the second quarter of last year, rising raw material costs ensured that income was significantly down in the three months to 30 June 2017. And although raw material costs are rescinding from the peaks seen earlier in the year, the tyre maker is keeping an eye out for further fluctuations.

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Apollo Tyres: Raw material prices drags profit down 72%

Monday 7th August 2017 | 0 Comments

High raw material prices strongly influenced the bottom line at Apollo Tyres Ltd in the three months to 30 June 2017. Although net sales, at Rs 32.58 billion (£391.0 million), were in line with those achieved in the corresponding quarter a year earlier, operating profit declined 50.3 per cent to Rs 2.82 billion (£33.8 million) and net profit was down 72.0 per cent to Rs 880.3 million (£10.6 million).

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Ceat Ltd: Profit drops 99%

Monday 7th August 2017 | 0 Comments

Despite revenues remaining relatively stable, Ceat Limited endured a massive drop in net profit in the first quarter of its financial year. Consolidated net revenues declined 0.7 per cent year-on-year to Rs 14.6 billion (£175.2 million), while the Indian tyre maker reported a 70.4 per cent per cent decline in EBITA to Rs 580 million (£7.0 million) and shrinkage of the margin from 13.3 per cent to 4.0 per cent. Profit after tax plummeted 99.0 per cent from Rs 1.03 billion (£1.2 million) to Rs 10 million (£120,000).

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MRF Ltd: Q2 2017 profit down 78%

Monday 7th August 2017 | 0 Comments

Although its total income rose 2.7 per cent year-on-year in the second quarter of the year, to Rs 40.1 billion (£480.8 million), MRF Limited reported a substantial drop in profit during the three months to 30 June 2017. The India tyre maker’s profit declined 77.9 per cent to Rs 1.1 billion (£12.7 million) due to a 21.0 per cent year-on-year rise in expenses, to Rs 39.2 billion.

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