For the first time since being acquired by China’s Doublestar four years ago, Kumho Tire has published an annual report. Under the title ‘Up and Running’, the South Korean tyre maker reports on the course of the 2021 business year, which the manufacturer closed with a turnover of KRW 2.6 trillion won (£1.65 billion), a year-on-year increase of 20 per cent.
Pirelli’s 2019 Annual Report will feature new writing from Emmanuel Carrère and John Seabrook, and illustration by Selman Hoşgör. The Italian tyre manufacturer is continuing its decade-long tradition of “enriching” its report, entitled ‘The Road Ahead’, with new artist commissions. Pirelli says this helps to tell the company’s story “beyond the numbers alone.” The three artists have produced work based on the theme of resilience, or the “capacity to react, change and improve”, as Pirelli defines the word. While the theme resonates with the current context, Pirelli adds that the commissions were conceived before the changes imposed by Covid-19. However the emergence of the pandemic figure large in the pieces ‘Noon at our door’ by Carrère and ‘The Zoom brigata’ by Seabrook.
Better late than never – as 2017 draws to a close, we can pour ourselves a hot drink, sit by the fireplace and peruse the Toyo Tire & Rubber annual report for 2016. The 61-page document outlines the company’s progress since introducing its Mid-Term 14 business plan and outlines the new Mid-Term 17 plan, which calls for net sales to increase (from the 2016 financial year) 25.8 per cent to 480.0 billion yen (£3.2 billion) by the 2020 financial year, and for operating income to rise 21.7 per cent to 60.0 billion yen (£397.9 million).
Pirelli’s 2013 annual report, titled ‘Spinning the Wheel’, has been awarded a platinum medal in the Annual Reports 2014-2016 competition held by Graphis, a magazine dedicated to pre-eminent design production around the world. Spinning the Wheel was one of only eight annual reports to achieve platinum status; a further 77 were awarded gold and 92 received a silver medal.
Pirelli has published its 2014 Annual Report. The 389 page tome, which can be downloaded from Tyrepress.com’s company profiles section, contains details of Pirelli’s production and financial performance, along with the tyre maker’s priorities for 2015 and other specific areas of interest.
Michelin has published its 2014 Annual and Sustainable Development Report. Titled ‘Open Minded’, the 94-page report pays homage to the tyre maker’s innovations and achievements. It also outlines the key Michelin financial indicators and the new organisational structure set up last year. The report also lists Michelin’s ‘Ambitions 2020’ goals.
Reporting what looks likely to be its last full year results before ChemChina takes control, Pirelli has confirmed marginally improved financial data in its tyre business for the full year 2014. EBIT rose 4.5 per cent to 852.6 million euros (815.7 million euros in 2013), though revenues were marginally down (0.4 per cent) to 6,007.5 million euros. Total net profit was up 8.6 per cent to 332.8 million euros (versus 306.5 million euros in 2013).
Consolidated net income at online tyre dealer Delticom has decreased for the second consecutive year, falling 47.9 per cent year-on-year to €11.6 million for 2013. This is 67.8 per cent lower than the 15-year old company’s best ever net income of €36.0 million, which it achieved in 2011. Nevertheless, upon releasing its 2013 Annual Report the company defended this result by claiming its business model “has once again proven its resilience” and that Delticom ran a profitable business last year despite an “adverse” market environment.
According to an article published in Italian newspaper La Repubblica today, Pirelli intends to divest its ‘Steelcord’ business and has attached a €250 million price tag to it. The publication says Pirelli is now in the final stages of negotiations with Bekaert regarding a potential sale.
During 2011, some 4.8 million tonnes of tyres were manufactured in Europe, a figure representing 24 per cent of the global total. Overall tyre production levels within the region were 6.6 per cent higher than in 2010. European replacement market sales totaled 301.7 million units during the year, an increase of 4.41 per cent over 2010 levels; replacement passenger car and light commercial vehicle tyre sales came to 289 million units, up 4.21 per cent, and replacement commercial vehicle tyre sales amounted to 12.6 million units, a 9.1 per cent year-on-year increase.
On 4 May 2009 Hayes Lemmerz International, Inc. received an exchange listing non-compliance letter from the Nasdaq stock exchange notifying the company that it was “no longer in compliance with the rules for continued listing according to Listing Rule 5250(c)(1),” which refers to the prompt publication of financial results. According to a statement issued by Hayes Lemmerz, the letter comes as a result of its failure to file its annual report on Form 10-K for the fiscal year ended 31 January 2009 with the US Securities and Exchange Commission. Hayes has until 3 July 2009, to submit a plan to regain compliance with Nasdaq’s continuing listing standards. The company says it expects to file its Form 10-K on or before 15 May 2009. The notification has no effect on the listing of the common stock of Hayes at the moment.
The median age of passenger cars in operation increased to 9.4 years in 2008, breaking the previous two-year record high of 9.2 years, according to a new report by R. L. Polk & Co. In its annual report, Polk said that the median age for all trucks in 2008 increased to 7.6 years from 7.3 years in 2007. Light truck age increased from 7.1 years in 2007 to 7.5 years in 2008.
“As the fleet of pick-up trucks, SUVs and minivans purchased in the late 1980s and through the 1990s ages, their scrappage rates accelerate,” said Polk’s Dave Goebel. The percentage of total passenger cars and trucks scrapped in 2008 increased to 5.6 per cent compared to 5.2 per cent in 2007. The passenger car scrappage rate was 5.1 per cent. For all trucks, the scrappage rate was 6.3 per cent and light truck scrappage was 6.4 per cent, both up notably from 2007.
“The current economic environment, coupled with high gas prices last spring and summer, have resulted in consumers delaying purchases of vehicles because their discretionary income has fallen,” said Goebel. “Based on the uncertainty of what the future holds, consumers are trying to keep their current vehicles running longer, until their confidence improves.” (Tire Review/Akron)