Apollo Tyres has recorded strong growth in the fourth quarter of its 2020/21 financial year (April 2020 to March 2021). Consolidated revenues from global operations grew 39 per cent to close at 50.26 billion rupees (£486 million – all conversions based on rates on 14 May) in quarter four. For the full year of FY21, it grew 6 per cent to close at 173.97 billion rupees (£1.68 billion). Apollo reports that operating profit (EBITDA excluding other income) was up 70 per cent in Q4, while for the full year, it was up 44 per cent.
While Nokian Tyres was unable to maintain its turnover and operating profit in 2014, the company achieved a sizable increase in net profit. The Finnish company’s turnover declined 2.1 per cent to €1.36 billion. Operating profit declined 4.1 per cent to €296 million, however net profit rose 15.5 per cent to €240.7 million.
Sweden’s Trelleborg AB reports that organic sales within its Trelleborg Wheel Systems business decreased by six per cent year-on-year in 2015, despite a four per cent rise in overall sales. Organic sales were pushed downwards by agriculture-related sales, which were impacted by markedly lower agricultural machinery production levels. The organic sales trend for tyres for materials handling vehicles was slightly negative for the full-year. Total net sales increased 3.6 per cent to SEK 4.3 billion (£349 million).
The latest quarter figures for JK Tyre & Industries were released along with a challenge for India’s government to impose tariffs upon tyres imported from China. Company chairman and managing director Dr Raghupati Singhania stated on 4 August that the “menace” posed by the “dumping of Chinese tyres” continues “unabated”. He added that “urgent steps are required to impose [an] anti-dumping duty to ensure a level playing field in the marketplace.”
Shortly after Continental AG pre-released its fourth quarter 2014 results at the North American International Auto Show in Detroit on Monday 12 January 2015, the company also previewed estimated fourth quarter pre-tax profits. The problem is that while the majority of the advance figures were broadly in line with expectations, the pre-tax profit (EBIT) figure wasn’t. So with this in mind it begs the question of whether Continental executives are preparing the market for a lower than expected result when the final figures are published on 5 March 2015.