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You are here: Home1 / Deutsche Bank

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Fintyre’s insolvent businesses: All unpaid employees now receiving benefits

Company News, International News

All employees of the Fintyre Group’s 16 subsidiary companies in Germany who didn’t receive their wages or salaries for January have now received insolvency benefits – which Fintyre will ultimately pay for, one way or another.

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Related news:

  1. Search for Fintyre investor begins as employees receive insolvency benefits
  2. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  3. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  4. End of the line for German tyre wholesaler RS Exclusiv
26th February 2020/by Stephen

Goodyear to webcast from DB industry conference

Company News

A webcast of Goodyear Tire & Rubber’s business overview and strategies will be held on 14 January; the live audio webcast of executive vice-president and chief financial officer Laura Thompson’s 40 minute presentation at the 2014 Deutsche Bank Global Auto Industry Conference in Detroit, US can be viewed from the http://investor.goodyear.com and will be available 1:35pm local time (6:35pm GMT, 7:35pm CET) on 14 January.

Read more

Related news:

  1. Goodyear to webcast Deutsche Bank presentation
  2. Goodyear to webcast 2012 Global Auto conference presentation
  3. Goodyear to explain US union contract
  4. Goodyear Prices Additional $100 Million of 8.25% Senior Notes
8th January 2014/by Tyrepress Editors

Deutsche Bank revises Bridgestone outlook

Company News

Deutsche Bank Equity Research Automotive has adjusted its 2013 and 2014 earnings outlook for Bridgestone Corporation. In a company update published on 18 November, analyst Kurt Sanger wrote that overall, Bridgestone’s strong third quarter performance highlighted the company’s “operational excellence through cost controls.”

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Related news:

  1. Michelin discusses mid-term targets
  2. Nexen Q3 figures below consensus
  3. US Replacement Shipments up 1 per cent
  4. Rubber prices reach new low
18th November 2013/by Tyrepress Editors

October tyre volumes up 3% – Michelin

Company News

October volumes in mature markets have risen by three per cent, according to Michelin. While North American passenger car tyre volumes increased a little more than in Europe to reach an aggregate rise of two per cent, Europe led truck tyre increases at nine per cent versus North America’s six per cent.

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Related news:

  1. Michelin: European Tyre Volumes Strong in July
  2. EU Passenger Car Tyre Sales up 12 per cent
  3. Michelin Sales ‘Stabilise’
  4. Analysts Expect “Very Bad” 4Q Figures from Michelin
15th November 2013/by Andrew

Nexen Q3 figures below consensus

Company News

Nexen’s third quarter figures have underperformed market expectations. According to Deutsche Bank research published 1 November, Nexen’s operating profit results were 13 per cent below consensus expectations.

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Related news:

  1. Investment firm gives Titan bearish review
  2. Deutsche Bank revises Bridgestone outlook
  3. Euro Strength “Concerning”
  4. Tyre Business to be 95% of Pirelli Revenues Following Real Estate Spin-Off
4th November 2013/by Tyrepress Editors

Nokian issues profit warning

Company News

Nokian Tyres’ management has issued a profit warning stating that second half revenues are likely to be lower than expected. Third quarter sales are said to be stable year-on-year, which are somewhat lower than some analysts’ projections (Deutsche Bank for example had said +10 per cent).

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Related news:

  1. Analysts: Nokian Results 10 per cent Above Consensus
  2. Nokian: Sales Up, Profits Unchanged
  3. Nokian “On the Road Again”
  4. Analysts: Nokian Q3 ‘better than expected’, Q4 ‘weak’
7th October 2013/by Tyrepress Editors

US tyre demand showing ‘signs of recovery’

News

Tyre demand is picking up in the US, according to analysts and industry associations alike. Industry body RMA (Rubber Manufacturers Association) estimates that US light vehicle replacement tyre shipments increased 7.1 per cent year-on-year in August. US replacement commercial truck tyre volumes were estimated to be up 3 per cent year-on-year.

Read more

Related news:

  1. Cooper Results Have Implications on Goodyear
  2. Hankook net income 30% under consensus – analysts
  3. Goodyear to webcast Deutsche Bank presentation
  4. Moody’s affirms Goodyear rating, says “outlook positive”
10th September 2013/12,345 Comments/by Tyrepress Editors

Nexen Q2 results fall short of expectations

News

Nexen Tire’s second quarter results failed to live up to average analyst expectations. Although unit sales rose 17 per cent year-on-year, a ten per cent drop in average selling price compared with the second quarter of 2012 meant net sales revenue only increased 3.7 per cent to KRW 451.1 billion (£262.0 million) – 12.1 per cent lower than the consensus estimate of KRW 463.21 billion. Gross profit rose 4.6 per cent to KRW 125.1 billion (£72.7 million) and gross profit margin increased 0.2 per cent to 27.7 per cent.

Read more

Related news:

  1. Nexen Q1 results
  2. Nexen Tire sales, profit increases in Q2
  3. Nexen OE sales up 47% in Q3
  4. Nexen Tire America Announces Price Increase
8th August 2013/12,345 Comments/by Tyrepress Editors

Deutsche Bank lifts Goodyear estimates after strong Q2

News

As mentioned on 30 July, Goodyear Tire & Rubber’s second quarter net earnings per share of US$0.67 were markedly above the average analyst estimate. Deutsche Bank Equity Research Automotive comments that Goodyear’s Q2 operating earnings per share of $0.76 were a full $0.32 cents per share above its own prediction.

Read more

Related news:

  1. Natural Rubber Reaches New Peak Having Doubled in 2010
  2. Raw material costs declining: DB report
  3. Cooper Tire grant emphasises ‘renewed commitment’ to technical capabilities
  4. Former Bridgestone researcher accused of stealing trade secrets
1st August 2013/12,345 Comments/by Tyrepress Editors

‘In line’ results leave analysts expecting more from Hankook

Company News, International News, News

Hankook’s second quarter results show that the manufacturer is well-placed to take advantage of the anticipated gradual recovery of replacement markets in the next year and a half. Indeed, the 1.4 per cent increase in revenue growth indicates that the Korean manufacturer is already experiencing some upward momentum, this figure having declined in the previous two quarters. Deutsche Bank analyst Sanjeev Rana commented that the company’s ongoing product mix improvement and falling raw materials costs should combine with the American and European recovery to keep Hankook’s margins “resilient”, while the bank also expects its operating profit to “grow 18 per cent” year-on-year in in the second half of 2013.

Read more

Related news:

  1. Analysts raise Hankook price target
  2. Styron adds SSBR production line in Germany
  3. Hankook aiming for 12-15% US market share
  4. Bridgestone Russian plant spells end of supply/demand gap
31st July 2013/12,345 Comments/by Tyrepress Editors

Conti Eurobond worth €750M

News

Continental reports its latest Eurobond has a nominal amount of €750 million; it is expected to be issued on 16 July and has a term of five years, with a 3.0 per cent annual interest rate. Interest will be payable semi-annually in arrears. The issue price is 98.95 per cent. The bond will be listed on the Luxembourg Stock Exchange’s Regulated Market and BNP Paribas, Citi, Deutsche Bank, ING and UniCredit will as joint-bookrunners for the transaction.

Read more

Related news:

  1. Conti refinances syndicated loan
  2. Conti to offer another Eurobond
  3. 2012 a record year for Continental
  4. Third Conti Eurobond placed under debt issuance programme
10th July 2013/12,345 Comments/by Tyrepress Editors

Conti to offer another Eurobond

News

Continental has released details of its upcoming Eurobond offer. It says it will issue a bond with a volume of at least €500 million and a term to maturity of five years, and intends to use the issue proceeds thereof for the partial refinancing of its bond issued in September 2010. The offer is open to investors residing outside the US, Canada, Australia and Japan. The issue volume and bond conditions are expected to be determined in the next few days.

Read more

Related news:

  1. Conti Eurobond worth €750M
  2. Conti Canada Makes Org Changes
  3. Conti Completes Bookbuilding of New Shares
  4. Conti launches voluntary recall in North America
8th July 2013/12,345 Comments/by Tyrepress Editors

Analysts: Korean tyre companies outperform index

News

Korean tyre manufacturers have outperformed the Korean Kospi index year-to-date. According to an investor’s note published by financial analyst at Deutsche Bank, the strong showing has come thanks to “a sharp decline in raw material costs, strong earnings delivery and expectations of demand recovery in in the second half of 2013”, with the latter point welcome news for everyone.

Read more

Related news:

  1. Analysts “Still Cautious” on Cooper Shares
  2. Hankook net income 30% under consensus – analysts
  3. Michelin Share Price Increase
  4. Hankook Profits Fall 16 per cent
4th July 2013/12,345 Comments/by Tyrepress Editors

Pirelli profits dive in Q1, stronger full-year anticipated

News

The first quarter of 2013 appears to have been a "brutto trimestre" for Pirelli & C. SpA, with the Italian firm’s net profit dropping 41.7 per cent year-on-year between 1 January and 31 March. It was, in Pirelli’s words, a period “characterised by an economic scenario still strongly influenced by the crisis affecting Europe, where the demand for goods and services continues to shrink.”

Read more

Related news:

  1. Tyre Business to be 95% of Pirelli Revenues Following Real Estate Spin-Off
  2. Nexen Q3 figures below consensus
  3. Natural Rubber Reaches New Peak Having Doubled in 2010
  4. Raw material costs declining: DB report
8th May 2013/12,345 Comments/by Tyrepress Editors

Rubber prices reach new low

News

Back in October 2011, analysts at Deutsche Bank predicted that natural rubber prices would average US$4.50 a kilogramme in 2013. At the moment it looks as if that projection way off – last week, natural rubber prices reached a new low, sinking in excess of eight per cent to $2.50 a kilogramme.

Read more

Related news:

  1. Natural Rubber Reaches New Peak Having Doubled in 2010
  2. Analysts: ‘Massive’ Price Increases Needed to Offset NR Costs
  3. Analysts: Natural Rubber Price Dropping
  4. Gajah Tunggal profit grows 35% in first quarter
22nd April 2013/12,345 Comments/by Tyrepress Editors
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