Apollo Tyres reports revenue of Rs 209.48 billion (£2.22 billion) for the financial year ending 31 March 2021, 20 per cent higher than during the prior fiscal year. EBITDA declined 8.0 per cent year-on-year to Rs 25.74 billion (£272.59 million), with the EBITDA margin contracting 379 Bps to 12.3 per cent. Net profit stands at Rs 6.39 billion (£67.67 million).
The BMW Group has selected Apollo Tyres’ Vredestein Ultrac tyres as original equipment for the all-new BMW 2 Series Active Tourer, which went on sale across Europe from March 2022. Produced at Apollo Tyres’ Gyöngyöshalász plant in Hungary, the Vredestein tyres chosen by the BMW Group will be supplied in three sizes: 205/65R16 95W, 205/60R17 97W XL and 225/50R18 99W XL, each marked with a star symbol on the sidewall to indicate that they are a bespoke product for the BMW Group. This is the first time that Apollo Tyres has secured an original equipment deal with a BMW Group business.
Apollo Tyres is investing £5 million in a London-based digital innovation hub as part of a five-year growth plan, which involves significant investment in technology and cloud infrastructure. The announcement is set against the backdrop of UK prime minister Boris Johnson’s visit to India to discuss UK-India economic partnership, with Johnson specifically commenting on Apollo’s investment.
Apollo Tyres has appointed Guido Boerkamp director of its Off-Highway Tyres (OHT) division. Boerkamp joined the company (then known as Vredestein) in 1995 as a product specialist for agricultural and industrial tyres. He subsequently worked as product manager, business development manager and head of product group, before leading Apollo Tyres’ European OHT R&D division. Boerkamp succeeds Ruud Nijland who is retiring after over a decade at the company in this position.
Indian stock exchange BSE sought clarification from three tyre makers after media outlet CNBC-TV18 reported yesterday that the Competition Commission of India (CCI) had visited their premises as part of its investigation into alleged competition violation and cartelisation. One of the tyre firms, Apollo Tyres Ltd., responded to the BSE query earlier today. The other two manufacturers, Ceat Ltd. and MRF Ltd., have yet to reply.
Apollo Tyres is expanding its Vredestein Ultrac summer tyre range with the addition of 18 new options for 17- and 18-inch rim diameters. The Ultrac portfolio now encompasses 63 different 15- to 18-inch dimensions.
Swedish tyre wholesaler is now the exclusive distributor of the Vredestein range of car, light commercial and classic tyres in Sweden and Finland. Apollo Tyres will end direct sales to retailers of these Vredestein tyre categories as of 1 March 2022 and instead actively support Amring in further building the brand’s market share in these two markets. Apollo Tyres Nordic AB will continue selling Apollo TBR and OHT products directly in all Nordic markets.
Apollo Tyres aims to be the “easiest tyre company to do business with” and is implementing organisational changes in Europe that will help realise this goal. Parallel to a tweaking of the Vredestein brand’s positioning and pricing, Apollo is adapting its sales and marketing organisation and appointing new regional customer care managers. These changes come into play on 1 April 2022, and to find out more we spoke with Yves Pouliquen, Apollo Tyres’ head of sales and marketing for Europe.
During an event featuring former Manchester United great Dimitar Berbatov, Apollo Tyres launched the second season of United We Play, its pan-India initiative with the football club. Through two selection rounds, Apollo Tyres and Manchester United Soccer School coaches will select up to five young footballers to visit Old Trafford, giving them the opportunity to participate in a training session.
Yesterday the Competition Commission of India (CCI) finally made public the news that back in 2018 it found five tyre makers and India’s tyre industry association guilty of contravening the provisions of India’s Competition Act by indulging in cartel activities in 2011 and 2012. All protagonists have been fined for their actions.
Construction equipment firm Liebherr has approved Vredestein tyres as original equipment for several of its wheel loader models. The agreement with Apollo Tyres Ltd. sees Vredestein Endurion and Flotation Trac tyres homologated for the Liebherr compact wheel loaders L 504, L 506 and L 508.
As reported on 18 January, Apollo Tyres Ltd. has acquired a 27.2 per cent shareholding in a renewable energy firm, Cleantech Solar subsidiary CSE Deccan Solar. The tyre maker says the reason it did so is to gain a guaranteed annual supply of 40 million units of electricity for its manufacturing facility in Chennai. CSE Deccan Solar expects to begin delivering in July 2022, and this electricity will account for around 20 per cent of the plant’s total requirements and boost the total proportion of renewable energy to more than 30 per cent.
Farming Simulator 22 has arrived, and with it a cornucopia of tyre brands that players can select for their equipment. In addition to the previously reported presence of BKT, Continental and Michelin, Vredestein is also making its debut in the simulation game. Brand owner Apollo Tyres says this initiative is part of its strategy to raise awareness of the full range of premium Vredestein agricultural products among millions of current and aspiring farmers and supplier businesses.
Early in 2019, Apollo Tyres announced it would introduce motorcycle tyres into Europe under the Vredestein brand name, promising performance that competed with its rival’s first line products at prices competing with their second or even third line ranges. The first three models – the Vredestein Centauro ST radial for sport touring bikes, Centauro Road sports radial, and Staccata scooter range – debuted at the EICMA show in Italy later that year.