Tag: financials

Apollo Tyres: Q2 2018-19 financials

15th November 2018 | 0 Comments

Sales and profits were higher year-on-year during the second quarter of Apollo Tyres’ 2018-29 financial year. The company reports a 23 per cent rise in sales, to Rs 41.92 billion (£447.8 million) in the three months to 30 September 2019. Operating profit rose 25 per cent during the quarter, to Rs 4.80 billion (£51.5 million), while net profit was, at Rs 1.46 billion (£15.6 million), four per cent higher than a year earlier.

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Continental Q3 2018 results

Continental Q3 2018 results

12th November 2018 | 0 Comments

German tyre and automotive systems manufacturer Continental AG has reported Q3 2018 sales of 10.8 billion euros, a result just a whisker higher than the company achieved a year earlier. Adjusted EBIT amounted to 771.8 million euros, 30.1 per cent lower than last year’s result. Adjusted EBIT of 771.8 million equates to an adjusted operating margin of 7.2 per cent; the margin was 10.3 per cent in Q3 2017.

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Yokohama Rubber – Q3 2018 profit affected by asset impairment charge

9th November 2018 | 0 Comments

Yokohama Rubber Co., Ltd. reports a 1.2 per cent year-on-year increase in sales revenue in the nine months to 30 September 2018, however profit indicators were lower than in the first three quarters of last year. The tyre and rubber products manufacturer has also revised its full-year fiscal projection in light of operations at its US tyre plant.

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Goodyear: Q3 2018 results

1st November 2018 | 0 Comments

Goodyear Tire & Rubber has reported Q3 2018 sales of US$3.9 billion, slightly up on a year earlier; improved volume, price/mix and higher sales in other tyre-related businesses were “substantially offset” by unfavourable foreign currency translation.

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Hankook Tire: Lower OE volumes, costs in US drag operating profit down

Hankook Tire: Lower OE volumes, costs in US drag operating profit down

29th October 2018 | 0 Comments

Hankook Tire has announced its financial results for Q3 2018. In the three months to 30 September, the tyre maker achieved consolidated global sales of KRW 1.7557 trillion (£1.2 billion), 3.8 per cent less than in the third quarter of 2017. At KRW 184.6 billion (£126.0 million), operating profit was down 13.8 per cent.

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UK car production a factor in lower Q3 2018 volumes for Superior Industries Inc.

25th October 2018 | 0 Comments

Declining car production in the UK has contributed towards lower wheel unit shipments in the third quarter of 2018, reports Superior Industries International, Inc. Compared with the prior-year period, Q3 2018 shipments were down 300,000 units to 4.7 million.

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Michelin confirms guidance for 2018

14th September 2018 | 0 Comments

After reviewing the main external factors, namely the markets, raw materials costs and currency effects, Michelin has confirmed its guidance for 2018.

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Pirelli: No significant market changes

Pirelli: No significant market changes

23rd August 2018 | 0 Comments

According to a statement published yesterday, Pirelli doesn’t expect that a possible deterioration in the tyre market will influence its projected performance in the 2018 financial year.

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Continental downwardly revises 2018 guidance

22nd August 2018 | 0 Comments

Continental has updated its guidance for the 2018 fiscal year to reflect lower sales expectations, cost increases and warranty claims. The tyre maker and automotive parts and systems company now anticipates sales (including all expected negative exchange-rate effects) of approximately 45 billion euros rather than the previously forecast 46 billion euros. Expectations for adjusted EBIT margin have been revised from more than ten per cent to more than nine per cent.

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Lower earnings for Pakistan’s Gentipak in 2017-18

17th August 2018 | 0 Comments

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).

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Delticom: Income significantly up in H1 2018

15th August 2018 | 0 Comments

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

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Toyo Tires’ tyre business improves in H1 2018, results muted by ‘dampner scandal’

Toyo Tires’ tyre business improves in H1 2018, results muted by ‘dampner scandal’

14th August 2018 | 0 Comments

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.

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MRF more than doubles profit in Q1 2018-19

MRF more than doubles profit in Q1 2018-19

13th August 2018 | 0 Comments

In spite of lower year-on-year sales, MRF Ltd. more than doubled its net profit in the three months to 30 June 2018.

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Nokian Tyres increases sales, profits

10th August 2018 | 0 Comments

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.

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Sales, profit up at Yokohama Rubber in Q2 2018

Sales, profit up at Yokohama Rubber in Q2 2018

10th August 2018 | 0 Comments

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).

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