Tag: financial results
Lower earnings for Pakistan’s Gentipak in 2017-18
General Tyre and Rubber Company of Pakistan Limited reports net sales for the financial year ending 30 June 2018 increased 22.2 per cent year-on-year to PKR 11,785.5 million (£78.7 million). Profit from operations amounted to PKR 1,190.1 million (£7.9 million), down 8.7 per cent on the previous year’s result. Total comprehensive income for the year was PKR 671.4 million (£4.5 million), 20.7 per cent lower than in the 2016-17 financial year. Earnings per share amounted to PKR 11.97 (2016-17: PKR 14.75).
Delticom: Income significantly up in H1 2018
During the first half of 2018, online tyre retailer Delticom achieved revenues of 290.5 million euros, a year-on-year decrease of 2.2 per cent. EBITDA rose 36.0 per cent to 6.8 million euros and the margin increased from 1.7 per cent to 2.3 per cent. EBIT was up 16.2 per cent year-on-year to 3.2 million euros and net income increased 150.0 per cent to 2.0 million euros
Toyo Tires’ tyre business improves in H1 2018, results muted by ‘dampner scandal’
For Toyo Tire & Rubber, the first half of 2018 was a period of mixed fortunes. The manufacturer reports that turnover and earnings within its core tyre business increased 3.9 per cent during the six months to 30 June, with sales of 160,046 million yen (£1.1 billion) and operating income of 22,669 million yen (£160.8 million) resulting in a slightly improved profit margin of 14.2 per cent. Overall sales were down 3.3 per cent, to 185,738 million yen (£1.3 billion), due to decreased turnover within the company’s automotive parts business.
MRF more than doubles profit in Q1 2018-19
In spite of lower year-on-year sales, MRF Ltd. more than doubled its net profit in the three months to 30 June 2018.
Nokian Tyres increases sales, profits
Sales and profits headed in the right direction for Nokian Tyres in the second quarter and first half of 2018. The Finnish tyre maker reports a 6.4 per cent increase in net sales, to 429.1 million euros, in the six months to 30 June. Operating profit during this period rose 10.7 per cent year-on-year to 169.3 million euros and the operating margin reached 22.1 per cent (21.3 per cent in H1 2017). Profit for the period amounted to 134.1 million euros, 15.2 per cent higher than a year ago, and earnings per share rose to 0.97 euros.
Sales, profit up at Yokohama Rubber in Q2 2018
Yokohama Rubber Co., Ltd. reports that its sales revenue increased 1.8 per cent in the first half of 2018, to 309.7 billion yen (£2.2 billion). Business profit (sales revenue less the sum of cost of sales and selling, general and administrative expenses) rose 9.5 per cent year on year to 23.8 billion yen (£166.7 million) and operating profit was up 32.3 per cent to 26.4 billion yen (£184.9 million). The company says these operating profit and sales revenue figures were the highest it ever recorded. Profit attributable to owners of parent increased 19.2 per cent year-on-year, to 17.8 billion yen (£124.7 million).
Bridgestone: Tyre business increases in significance in Q2 2018
Turnover at Bridgestone Corporation increased 2.8 per cent year-on-year to 915.5 billion yen (£6.4 billion) during the second quarter of 2018. Sales within the company’s tyre business contributed 758.9 billion yen (£5.3 billion) towards total turnover, growing 3.7 per cent over the prior-year result.
Significant rise in Hella sales and earnings
Lighting and electronics specialist Hella has continued its profitable growth path in the fiscal year 2017/2018 (June 1, 2017 to May 31, 2018).
Superior Industries: Acquired European operation boosts Q2 2018 results
Record unit shipments and net sales were the headline news upon the release of Superior Industries International Inc.’s financial results for the second quarter of 2018 – a performance resulting from the company’s acquisition of Uniwheels last year. The company has also slightly raised its income and EBITDA projections for the entire year.
Pirelli: H1 2018 financial results
Pirelli & C. SpA has published its financial results for the first half of 2018. The key figures show a 2.0 per cent year-on-year decline in revenues to 2.63 billion euros despite organic growth of 5.5 per cent; adjusted EBIT rose 6.8 per cent to 473.3 million euros and the margin increased from 16.5 per cent (H1 2017) to 18.0 per cent; Net income (before discontinued operations) was up 169.1 per cent to 181.9 million euros.
Cooper Tire: Sales, income lower in Q2 2018
The results reported by Cooper Tire & Rubber for the second quarter of 2018 were, says the company’s president and chief executive officer, “in line with our stated expectations.” It therefore came as no great surprise that net sales, operating income and net income were all lower year-on-year in the three months to 30 June 2018.
Higher sales, earnings at Yokohama Rubber in Q1 2018
The Yokohama Rubber Co. Ltd. posted an 8.3 per cent increase in business profit (a measure basically equivalent to operating income and calculated as sales revenue less the sum of cost of sales and selling, general and administrative expenses) to 11.7 billion yen (£78.6 million), and a 27.5 per cent increase in operating profit to 14.1 billion yen (£94.8 million) in the first quarter of 2018. The company’s sales revenue in the three months to 31 March 2018 increased 2.3 per cent to 149.2 billion yen (£1.0 billion), the highest sales total ever reported by Yokohama Rubber.
Bridgestone: Operating profit down 3.1% in Q1 2018
Although its sales rose 0.9 per cent to 859.8 billion yen (£5.8 billion) in the first quarter of 2018, Bridgestone Corporation experienced a 3.1 per cent decline in operating income, to 99.8 billion yen (£673.5 million). The company attributes this to raw material costs and higher selling, general and administrative costs. The operating margin shrank half a percentage point to 11.6 per cent. Ordinary income amounted to 92.7 billion yen (£625.6 million) and profit attributable to owners of parent was 63.4 billion yen (£427.9 million).
Apollo Tyres looking for ‘healthy topline growth’ after 22% sales increase in FY 2017-18
During the final quarter of its 2017-18 financial year, net sales at Apollo Tyres rose 22 per cent year-on-year to Rs 39.82 billion (£437.3 million). Operating profit increased 33 per cent to Rs 5.59 billion (£61.4 million), while net profit in the three months to 31 March 2018 was up ten per cent to Rs 2.50 billion (£27.5 million).
Nokian Tyres: ‘Good development’ despite currency headwinds in Q1 2018
Although held back by exchange rate effects, net sales at Nokian Tyres were higher in the first three months of 2018 than a year earlier. Sales were up 3.1 per cent to 336.0 million euros; had the exchange rate effect been neutral, the tyre maker estimates that net sales would have increased 9.3 per cent year-on-year. Nevertheless, Hille Korhonen, president and chief executive officer of Nokian Tyres, referred to the result as “a good start of the year.”