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You are here: Home1 / News2 / Career Tracks3 / Delticom profit warning another negative point for tyre business –...

Delticom profit warning another negative point for tyre business – analysts

Date: 18th October 2012 Author: Tyrepress Editors Comments: 0

Following Delticom’s announcement of a profit warning, financial analysts have issued a warning of their own – Delticom AG could now witness market watchers slash their 2012 earnings estimates for the company by around 30 per cent.

The latest analysis comes days after Michelin published September market sales numbers showing a weakening of demand and Nokian issued a profit warning. As a result Delticom’s profit warning is characterised by Morgan Stanley analysts as “clearly another negative data point for the tyre sector”. 

In an research note dated 18 October Morgan Stanley wrote of what the implications could be for the wider market: “It is important to note that…dealers themselves are now commenting that end market demand is slow, particularly in winter tyres – clearly not a good sign given high inventory levels after last year’s warm winter. This is a negative data point for the whole tyre sector, in particular [companies such as] Michelin who are most levered to volumes.”

Independent anecdotal research conducted by the bank suggests that other companies such as Continental are not so badly afflicted: “dealers and companies lead us to believe it [Continental] does not suffer the same inventory problem as peers.”

Related news:

  • Delticom warns on profit outlook in 3Q results
  • Analysts: Delticom profit warning a reflection of European tyre market weakness
  • Weak summer tyre sales drag Delticom revenues down

Related news:

  1. Slow European demand/Nokian profit warning leads to share price drops
  2. Michelin analysts’ “top pick”
  3. Delticom warns on profit outlook in 3Q results
  4. Analysts: Michelin results ‘a good third quarter’
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Related Tags

Career Tracks, Continental, Delticom, Michelin, Nokian, winter tyres

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