Tag: financials

Growth in Europe boosts Nexen Tire’s Q3 2017 sales

Friday 17th November 2017 | 0 Comments

In the third quarter of this year, Nexen Tire increased its turnover by 12.1 per cent to KRW 526.9 billion (£360.9 million). This growth resulted from varied performance in the company’s regional markets. While sales were slightly down in North America and in Nexen’s home market of South Korea, the country’s third largest tyre maker turnover in Europe was up by 34 per cent, to KRW 143.9 billion (£98.5 million). Sales within the original equipment sector were also higher, and accounted for approximately half the overall increase in turnover.

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Despite lower income, Bridgestone anticipates stable 2017 profits

Friday 10th November 2017 | 0 Comments

While sales at Bridgestone Corporation were 8.9 per cent higher year-on-year in the first nine months of 2017, increasing raw material costs contributed to lower income. On the basis of its performance during quarters one to three of the current fiscal year, the company has decreased its full-year projections for sales and income.

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Continental: Tyre division growth behind group average in Q1-3 2017

Thursday 9th November 2017 | 0 Comments

The word Continental has used to describe its sales growth in the nine months to 30 September 2017 is “strong”. Sales rose 9.0 per cent during the period to 32.7 billion euros, a result Executive Board chairman Dr Elmar Degenhart attributes to putting “money on the right horses with our technologies for safe, efficient and intelligent mobility.”

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Hankook Tire: Sales up 10% in Q3 2017

Hankook Tire: Sales up 10% in Q3 2017

Tuesday 7th November 2017 | 0 Comments

Increased sales of winter and ultra-high-performance tyres in Europe are credited with helping drive revenue at Hankook Tire up 10.1 per cent year-on-year in the third quarter of 2017.

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Pirelli reports high value segment growth

Monday 6th November 2017 | 0 Comments

Strengthening of its ‘high value segment’ in the nine months to 30 September 2017 has helped Pirelli to increase its turnover by 9.0 per cent over this period, to 4.04 billion euros. High value segment turnover rose 13.0 per cent year-on-year to 2.34 billion euros; sales of ‘standard’ tyres only rose 4.0 per cent, to 1.69 billion euros. The 6.7 per cent turnover growth achieved in Europe was below average; only the Russia/CIS and Middle East/Africa regions showed weaker development.

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Apollo Tyres: Margins under pressure in July-September quarter

Friday 3rd November 2017 | 0 Comments

Higher sales didn’t lead to higher profits for Apollo Tyres in the first half of its current financial year. In the six months to 30 September, the tyre maker’s revenue rose 5.0 per cent to Rs 66.8 billion (£784.1 million) and operating profit stood at Rs 6.7 billion (£78.6 million). Net profit, at Rs 2.3 billion (£27.0 million), was down 59.1 per cent from the first half of the previous financial year.

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Cooper Tire & Rubber posts Q3 2017 results

Monday 30th October 2017 | 0 Comments

Cooper Tire & Rubber Company has reported a net income of US$62 million (diluted earnings per share of $1.18) for the third quarter of 2017, up 26.5 per cent from a year earlier.

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Michelin: Net sales up 3% in Q3 2017

Friday 20th October 2017 | 0 Comments

Reporting its performance during the third quarter of 2017 and the first nine months of the current financial year, Michelin has announced net sales of 5.34 billion euros for the three months to 30 September 2017. This result represents a 3.0 per cent year-on-year increase in net sales and includes a favourable 5.0 per cent price-mix effect and 1.0 per cent growth in volumes.

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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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