Tag: financials

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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Bridgestone: Tyre business increases in significance in Q2 2018

Bridgestone: Tyre business increases in significance in Q2 2018

10th August 2018 | 0 Comments

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.

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Superior Industries: Acquired European operation boosts Q2 2018 results

Superior Industries: Acquired European operation boosts Q2 2018 results

9th August 2018 | 0 Comments

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.

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Pirelli: H1 2018 financial results

Pirelli: H1 2018 financial results

8th August 2018 | 0 Comments

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.

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Cooper Tire: Sales, income lower in Q2 2018

Cooper Tire: Sales, income lower in Q2 2018

8th August 2018 | 0 Comments

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.

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Titan International net sales up 18% in Q2 2018

Titan International net sales up 18% in Q2 2018

7th August 2018 | 0 Comments

Titan International, Inc. has reported net sales of US$428.9 million for the second quarter of 2018, a 17.7 per cent improvement on last year’s result. Net income applicable to common shareholders for the quarter was $1.0 million, as compared to a loss of $10.3 million in the second quarter of 2017.

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