Tag: financial results

Stronger euro hits Continental in Q1 2018

8th May 2018 |

Sales within the Tire division at Continental failed to reach the previous year’s level during the first three months of 2018. Tire division sales declined 4.4 per cent to 2.64 billion euros during the quarter, however Continental calculates that they would have risen 1.0 per cent had exchange-rate effects and changes in the scope of consolidation not influenced the result.

Continue Reading

Cooper Tire: Manufacturing costs, lower volumes hold back Q1 2018 profit

2nd May 2018 |

Cooper Tire & Rubber reports achieving net sales of US$601 million in the first quarter of 2018, a 6.5 per cent decrease on a year earlier. The tyre maker states that net sales were negatively impacted by $39 million of lower unit volume and $20 million of unfavourable price and mix, partially offset by $17 million of favourable foreign currency impact.

Continue Reading

Yokohama reports record nine-month 2017 net sales results

14th November 2017 |

Yokohama Rubber Co., Ltd. has reported net sales of 466.79 billion yen in the first ninth months of 2017 – a new record for this period. Of this figure, 333.13 billion yen was generate by sales of tyres (excluding Alliance Tyre Group operations, which are included in the firm’s accounts following the business’ acquisition in September 2016). Therefore, profit attributable to owners of parent increased 96.4 per cent over the same period of the previous year, to 16.7 billion yen, on a 39.7 per cent increase in operating income, to 26.4 billion yen.

Continue Reading

Solvay reports second quarter sales of 3 billion euros

29th August 2017 |

Raw materials supplier Solvay has announced increased sales and profits in its second quarter 2017 results, with net sales of 3 billion euros (US$3.5 billion), up 11 per cent compared to the same period in 2016.

Continue Reading

Brembo reports 12% EBIT growth

27th July 2017 |

Leading Italian brake maker Brembo reports that its revenues increased 10.1 per cent to 1,262.4 million euros in the first half of 2017. During the same period pre-tax profits (EBITDA) grew 12.8 per cent to 255.5 million euros. EBITDA margin was over 20 per cent.

Continue Reading

Cooper Tire: Raw material costs deflate profit in Q1 2017

3rd May 2017 |

Although its revenues remained at roughly the same level as a year earlier, Cooper Tire & Rubber experienced a 46.2 per cent year-on-year drop in operating profit during the first quarter of 2017. The largest contributor to this unfavourable result was raw material costs which, net of price and mix, removed $42 million from the result.

Continue Reading

Continental “comfortably achieves” 2016 targets

9th January 2017 |

Key preliminary data for Continental’s 2016 financial year has been published, and this shows an increase in both sales and EBIT margin. Reported sales rose three per cent year-on-year to around €40.5 billion, and adjusted EBIT margin amounted to some 10.7 per cent. Upon announcing these results today, Continental wrote that the company “comfortably achieved” its annual targets as adjusted in October 2016.

Continue Reading

Yokohama profits tumble 49%

10th August 2016 |

The Yokohama Rubber Co. Ltd. first half 2016 profits declined 49.3 per cent, to 8.2 billion yen. Yokohama reports that the fall resulted from a 37.9 per cent decline in operating income, to 15.7 billion yen, on a 9.5 per cent decline in net sales, to 268.1 billion yen. The Japanese tyre manufacturer put the negative performance down to “a unit decline in Japanese vehicle production, weakening demand and declining prices in Yokohama’s principal product sectors, and the appreciation of the yen”.

Continue Reading

Double-digit sales growth for Mahle

Double-digit sales growth for Mahle

10th August 2016 |

Mahle grew its sales to 11.5 billion euros in 2015, almost 16 per cent year on year. Employment rates are also at a high in multiple locations worldwide. CEO and chairman, Wolf Henning Scheider said the company “has entered a new dimension. In terms of variety and depth of range, our company is now, more than ever, one of the influential suppliers in the automotive industry.”

Continue Reading

Profits up 60% at Univergomma

Profits up 60% at Univergomma

13th July 2016 |

Italian tyre wholesaler Univergomma Spa reported increased sales and strongly improved profits in its full-year 2015 results. The full-year 2015 figures show that the company achieved a turnover of 96.7 million euros up to 31 December 2015. This was based on sales increases of 4.3 per cent in value and +4.7 per cent in volume compared with the previous year. Year-on-year, pre-tax profits (EBITDA) was 8 million euros, up 60 per cent. The net final result of approximately 3 million euros improved by 72.5 per cent.

Continue Reading

Brembo celebrates 100 millionth brake disc

Brembo celebrates 100 millionth brake disc

16th May 2016 |

Brembo’s board of directors, which is chaired by Alberto Bombassei, met at the firm’s Polish factory in Dabrowa Gornicza on Tuesday 10 May to celebrate the production of the firm’s one-hundred-millionth disc. At the same time Brembo’s board approved the group's quarterly results from 31 March 2016. Brembo Group’s net consolidated revenues amounted to 563.6 million euros in the first quarter of 2016, up 9.6 per cent compared to the first quarter of 2015. On a like-for-like exchange rate basis, revenues increased by 10.5 per cent.

Continue Reading

Apollo Tyres annual net profit up 12 per cent, but European sales slide

11th May 2016 |

On the occasion of publishing its full-year 2015/2016 financials, Apollo Tyres has reported sales of 117 billion rupees (£1.214 billion; 1.537 billion euros; US$1.757 billion) compared with 127.256 billion rupees in 2014/2015. During the same period (2015/2016) operating profit grew 3 per cent to close at 20.4 billion rupees, up from 19.8 billion rupees. Net profit increased 12 per cent to 10.9 billion from 9.8 billion rupees the year before.

Continue Reading

Andrew Page acquires Solid Auto (UK) Ltd

14th March 2016 |

Andrew Page has bought Solid Auto (UK) for an undisclosed sum as part in a bid to become Britain’s leading distributor of Japanese and Korean car parts after as well as a growing player in general. According to the company, the acquisition will also strengthen Andrew Page’s sourcing capability in China and the Far East. Chairman Jim Sumner said: “Birmingham-based Solid Auto has established a very good reputation as a specialist supplier over the last three decades”.

Continue Reading

Bridgestone: Sales, operating income up in 2015, net income declines 5.4%

19th February 2016 |

Bridgestone Corporation has reported net sales of ¥3,790.2 billion (£23.3 billion) in the 2015 financial year, a 3.2 per cent increase on the previous year’s result. Boosted by price mix, foreign exchange gains and favourable prices for raw materials, operating income climbed 8.2 per cent to ¥517.2 billion (£3.2 billion), however net income decreased 5.4 per cent year-on-year to ¥284.2 billion (£1.7 billion).

Continue Reading

Michelin reports 2,577 million euros of operating income

16th February 2016 |

Compagnie Generale Des Etablissements Michelin has reported a 2015 operating income of 2,577 million euros, up 407 million euros or 12.2 per cent compared with 2014. During the same period Michelin reported a 3.2 per cent increase in tonnages, outpacing the market in all business segments. Growth was said to have been especially strong in passenger car and light truck tyres (up 6.7 per cent)

Continue Reading