Tag: full-year

Gajah Tunngal Reports £64M Net Profit for FY2009

Gajah Tunngal Reports £64M Net Profit for FY2009

19th March 2010 | 0 Comments

Full year net profits of 905.33 billion rupiah (£64.67 million) have been reported by PT Gajah Tunggal Tbk. The Indonesian tyre maker reports it “managed to overcome a difficult first half of 2009” to post full-year sales of 7,936 billion rupiah (£566.86 million), only slightly down from the 7,963 billion achieved in 2008. Overall sales volumes were down in 2008, the company says, primarily due to volume decreases in export markets. The reported net profit, however, represents a marked contrast to a net loss of 624.79 billion (£44.63 million) a year earlier. Gajah Tunggal claims “strong operational performance was the main driver” of this turn around from loss to profit, although a large translational foreign exchange gain related to the company’s US dollar denominated bonds also contributed to the gain in net income. Furthermore, Gajah Tunggal’s associated company, PT Polychem Indonesia Tbk., added 16 billion rupiah (£1.14 million) to earnings from a loss of 76 billion rupiah the year before.

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Yokohama Rubber Posts Net Loss in Latest Fiscal Year

12th May 2009 | 0 Comments

Yokohama Rubber Co., Ltd., has posted a net loss of 5.7 billion yen (£38.7 million) for the financial year ended 31 March 2009, compared with net income of 21.1 billion yen (£142.6 million) in full-year 2008. This came as a result of operating income declining 61.3 per cent, to 12.8 billion yen (£87 million), on a 6.2 per cent decline in net sales, to 517.3 billion yen (£3.5 billion). The company’ s Tire Group saw operating income plummet 62 per cent, to 9.9 billion yen (£67.4 million), on a 4.8 per cent decline in sales, to 399.7 billion yen (£2.7 billion).

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Analysts: European Truck Market Has Fallen 50% in 1Q 2009

20th April 2009 | 0 Comments

European heavy truck deliveries may have fallen by as much as 50 per cent in the first quarter of 2009, “the steepest fall for many decades,” according to Deutsche Bank. Citing anecdotal evidence, the market watchers suggest that demand may be stabilizing at the current level, which could lead to a 50 per cent fall in full-year 2009 totals. This would reportedly return demand to 1995 levels. “There are some signs that European industrial production may trough as soon as Q3, also at 1995 levels. We do not expect truck sales to recover until late 2010/early 2011,” the analysts commented. In the meantime truck stocks are said to be up 23-35 per cent over the last month.

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Nizhnekamskshina 1Q Tyre Production Down 48.5%

15th April 2009 | 0 Comments

Russian tyre producer Nizhnekamskshina has reported that its first quarter 2009 tyre production was 48.5 per cent lower than during same period the year before. In the first quarter of 2009 the tyre manufacturer reportedly produced 1.505 million tyres. Nizhnekamskshina is one of the Russian market’s two most dominant truck tyre players, along with Sibur-Russian Tyres. Between them the two companies control approximately 80 per cent of domestic truck market sales.

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Beru Sales, Profits Down

14th November 2008 | 0 Comments

In the first nine months of 2008 the Beru Group posted revenue of 324.2 million euros, a decrease of 2.2 per cent of the corresponding period of the previous year. Profit from ordinary activities (EBIT) amounted 18.8 million euros, equivalent to an EBIT margin of 5.8 per cent. In 2007 this figure and margin were 34.2 million euros and 10.3 per cent respectively. This includes one-time special items, which reduced EBIT by approximately EUR 9.8 million. Excluding those special items, adjusted EBIT amounted to EUR 28.6 million, equivalent to an adjusted margin of 8.8 per cent per cent.

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Delticom Revenues up 20%

31st October 2008 | 0 Comments

Delticom AG has reported revenues of 175 million euros in the first nine months of 2008. Preliminary figures show that by the second anniversary of its IPO (26 October 2006), the company had increased revenues by 20 per cent compared with the same time in 2007 (146 million). Preliminary third quarter revenues can in at over 53 million euros compared with 44.0 million last year. According to the company, Delticom has acquired more than 480,000 new customers. In addition, almost 170,000 repeat customers have bought Delticom's products in one of the 95 online shops in 35 countries. This equates to a customer base of more than 2.4 million at the end of September, up around 37 per cent year-on-year.

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Accuride Posts Quarter Loss Results

14th May 2008 | 0 Comments

Components manufacturer Accuride reports that in the quarter to March 31, 2008 the company achieved sales of US$238.2 million, a decrease of 26.2 per cent on the same quarter a year earlier. This decline in net sales, says the company, reflects a 33 per cent decline in North American Class 8 production and a $24 million reduction due to products re-sourced by a light vehicle customer during 2007. A net loss of $11.7 million was reported for the first quarter of 2008, compared to a loss of $1.9 million in the corresponding quarter of 2007. Adjusted EBIDTA was $18.5 million, compared to adjusted EBIDTA of $49.2 million a year earlier.

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Beru Makes Full-Year Target Adjustment

28th September 2007 | 0 Comments

German automotive supplier Beru reports that, as a result of what it refers to as the current “difficult” situation in the motor industry, the company now assumes it will achieve operating profit (EBIT) of between 44 million and 47 million euros in full-year 2007. This represents a slight downward correction of the company's most recently published earnings guidance. The reduction is attributed to the ongoing decrease in unit sales in the high-margin aftermarket business. Furthermore, in response to demands from vehicle manufacturers, Beru has been forced to grant price reductions it says exceed the effects of its own internal cost-cutting activities. Beru's executive board maintains its goal of increasing sales revenues by a low single-digit percentage this year.

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Hankook Reports Decline in Quarterly Earnings

10th August 2006 | 0 Comments

Hankook Tire Co. reported a 23.9 per cent decline in quarterly earnings, based on a stronger won and high raw materials costs, and the company has downgraded its full-year outlook, as reported by the Korea Times. Net profit totalled £24 million ($45.49 million) for the three months ending 30 June. Sales dropped 0.7 per cent, while operating profit declined 32.8 per cent. In the first half of the year, Hankook’s net profit was down 12.2 per cent from the previous year. Revenue grew 1.05 per cent, but operating profit fell 29.92 per cent.

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Bridgestone OP down 8.7 per cent

9th August 2006 | 0 Comments

Bridgestone Corp. has reported that first half operating profit fell 8.7 per cent to 84.11 billion yen (£382 million) on account of raw material costs. Net profit dropped 67.7 per cent to 32.82 billion yen (£146.6 million), partly due to a one-off pension-related gain of 80.8 billion yen in the year-earlier period.

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Bridgestone Cuts Full-Year Profit Projections

27th June 2006 | 0 Comments

Bridgestone Corporation has revised its full-year financial projections, cutting net income predictions 35 per cent to 65 billion yen (£306 million).

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Analyst Reduces Earnings Estimates for Goodyear

23rd June 2006 | 0 Comments

Standard & Poor's Equity Research analyst Efraim Levy has reduced his earnings estimates for Goodyear Tire & Rubber, saying that raw material costs will have a greater impact on the company than was originally thought. He cut the second-quarter and full-year 2006 earnings estimates on Goodyear to 36 cents and $1.29 per share, respectively, from 43 cents and $1.51. Levy said he expects the company to be cash-flow negative in 2006 and he lowered the target price on Goodyear shares to $14 from $17.

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Continental 3Q Figures Outperform Full Year 2004 Result

2nd November 2005 | 0 Comments

International automotive supplier Continental AG has once again lifted sales and earnings, with sales rising considerably by a two-digit figure thanks to the successful integration of Phoenix AG. “In the first three quarters, we have already outperformed the full-year figures for 2004 – for net income before taxes and interest as well as profit. In addition to the excellent operational performance, this is also a result of one-off effects,” said executive board chairman Manfred Wennemer on Wednesday in Hanover. “There is no indication that this trend will change in the fourth quarter, so we will top our record figures from last year, even when the one-off effects are not taken into consideration.”

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Sumitomo to Raise Domestic Tyre Prices

21st July 2005 | 0 Comments

Sumitomo Rubber has announced that it will raise domestic market tyre prices by between 4 and 4.5 per cent in September. The company’s move is said to be in response to the higher cost of synthetic rubber and other input materials. Analysts have suggested that this is a positive step, which could result in a 2 billion yen boost in full year operation profit. As a result the company’s share went up 1.4 per cent to 1,130 yen. “We maintain our full-year earnings forecasts, as our figures are already above the company’s, and recent rises in materials costs could be negative,” the Deutsche Bank Analysts added.

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Yaroslavl Reports Operating Results

7th June 2005 | 0 Comments

JSC Yaroslavsky Tire Works in Yaroslavl', one of Russia’s largest tyre manufacturers and a part of Sibur holding, has released full-year 2004 and first quarter 2005 financials. The results show that, once again, although the company's output dropped its profitability has actually increased. 2004 sales fell 30 per cent year-on-year to $95 million, while operating profit dropped 17 per cent to $2.5 million.

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