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You are here: Home1 / profit

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Pirelli: Profits will remain in lower end of range, despite Russia-Ukraine crisis

Company News, International News

While announcing its latest financial results, Pirelli has shared details of the steps it has taken to mitigate the impact of the “Russia-Ukraine crisis”. Writing on 23 February, executives explained that Pirelli has conducted an initial analysis of the situation and steps required.

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  1. Nokian Tyres drops 2022 guidance due to Russian invasion
  2. How will war in Ukraine impact European tyre production?
  3. Rosneft responds to its inclusion on sanctions list
  4. Hauling Out of the Recessionary Market
1st March 2022/by Chris

Back in line with 2019 levels: Michelin publishes full-year 2021 results

Company News, International News

Compagnie Générale des Établissements Michelin (the Michelin Group) delivered segment operating income of 2,966 million euros and a margin of 12.5 per cent, which was “back in line with 2019”, according to the company. Specifically, Sales rose by 16.3 per cent to 23,795 million euros and segment operating income stood at 2,966 million euros.

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Related news:

  1. Yokohama Q1: Tires division enters loss, ATG remains profitable
  2. Continental’s tyres and rubber business profitable in Q2, despite corona
  3. Cooper reports $6 million 2Q loss, international business beat 2019 result
  4. Brembo fourth-quarter net profit up +17.5%
15th February 2022/by Chris

Toyo Tire reports 23.8% sales increase in Q2 2021, return to profit

Company News, International News
Tokumeigakarinoaoshima - CC

Toyo Tire Corporation achieved second-quarter 2021 net sales of 186,392 million yen (£1.217 billion; 1.438 billion euros; US$1.687 billion), an increase of 23.8 per cent compared with the same period in 2020. Compared with low levels last year, Toyo’s profitability also increased. Operating income amounted to 26,958 million yen, up 240.0 per cent.

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  1. Goodyear aiming for US$3 billion in operating income by 2020
  2. Toyo Tire net sales down 9.8% in Q1
  3. Toyo raises full-year 2021 estimates
  4. Yokohama Sales & Earnings Decline in H1
10th August 2021/by Chris

Brembo fourth-quarter net profit up +17.5%

Company News, International News

Italian brake manufacturer Brembo has reported increased fourth quarter sales and pre-tax profits despite the corona-related loss in annual turnover the firm also reported. Fourth quarter 2020 revenues amounted to 649.7 million euros, up 4.5 per cent compared to the same period of the previous year. Pre-tax profits were (EBITDA) were 121.6 million euros (EBITDA margin: 18.7%). As result, the company’s net debt position improved by 121.0 million euros compared to 30 September 2020.

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  1. Brembo celebrates 100 millionth brake disc
  2. Brembo reports 12% EBIT growth
  3. Daniele Schillaci appointed Brembo CEO
  4. Yokohama Q1: Tires division enters loss, ATG remains profitable
8th March 2021/by Chris

Tyre business keeping Continental Group profitable

Company News, International News, News
Continental AG

Continental’s nine-month 2020 figures show the tyre and automotive supplier “did remarkably well operationally in the third quarter” despite the “still very volatile market environment”, according to outgoing CEO Dr Elmar Degenhart.

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  1. Continental’s tyres and rubber business profitable in Q2, despite corona
  2. Davanti completes Idiada benchmarking tests: video
  3. Michelin returns to the top of online brand ranking
  4. A double win for Conti at TTI Awards
11th November 2020/by Chris

Cooper reports $6 million 2Q loss, international business beat 2019 result

Company News, International News

Cooper Tire & Rubber Company reported a second quarter 2020 net loss of US$6 million on 3 August 2020 compared with net income of $9 million in the same period last year. Net sales decreased 26.9 per cent to $496 million. Operating profit was $5 million, or 1.1 per cent of net sales, compared to operating profit of $32 million (4.7 per cent of net sales) in 2019.

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  1. Continental’s tyres and rubber business profitable in Q2, despite corona
  2. Cooper Tire reopening US and Serbia tyre factories
  3. Exide enters bankruptcy
  4. Cooper Tires extends North America production pause
6th August 2020/by Chris

Continental’s tyres and rubber business profitable in Q2, despite corona

Company News, International News
Marcus Prell, Continental AG

Continental has reported second quarter 2020 consolidated group sales of 6.620 billion euros. This equates to -39.8 per cent drop year-on-year. Pre-tax profits (EBIT) came in at -9.6 per cent of sales (-636 million euros). However, sales in the Rubber Technologies division, which includes tyres, were 2.962 billion euros and the adjusted EBIT margin was 1.2 per cent (around 36 million euros). Thus, Continental’s tyre business has managed to remain profitable despite the obvious pressures of the coronavirus context.

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Related news:

  1. Michelin temporarily closes some European factories, car tyre demand down 9%
  2. Continental AG measures ‘encouraging’, but R&D budgets and European tyre factories could be cut – analysts
  3. Cooper reports $6 million 2Q loss, international business beat 2019 result
  4. Continental closing Aachen, Germany tyre factory
21st July 2020/by Chris

Yokohama Q1: Tires division enters loss, ATG remains profitable

Company News, International News
Yokohama Q1 2020 financial result. Source: YokohamaYokohama

The Yokohama Rubber Co. Ltd. posted a 258 million yen loss during the first quarter of 2020 compared with 9.1 billion yen in profit in the same period of the previous year. Meanwhile operating profit fell 90.4 per cent, to 1.2 billion yen. Sales revenue declined 13.6 per cent to 129.1 billion yen.

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Related news:

  1. Yokohama remains profitable in 1H 2020, despite coronavirus
  2. Yokohama reports record nine-month 2017 net sales results
  3. Continental’s tyres and rubber business profitable in Q2, despite corona
  4. Cooper reports $6 million 2Q loss, international business beat 2019 result
22nd May 2020/by Chris

Goodyear aiming for US$3 billion in operating income by 2020

Company News, International News

The Goodyear Tire & Rubber Company is aiming to achieve US$3 billion in annual segment operating income by 2020. At the same time the company is planning to attain cumulative free cash flow of $4.3-$4.9 billion from 2017 to 2020.

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Related news:

  1. Goodyear reintroduces shareholder dividends
  2. Goodyear India to Pay Dividend – updated
  3. Goodyear declares dividend on 5.875% preferred stock
  4. Goodyear breaks through financial quagmire, reinstates dividend
15th September 2016/by Tyrepress Editors

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