Revenues and Profits Up – SRT

Sibur-Russian Tyres report that during 2006 the company increased their consolidated revenues by 17 per cent to 21.1 billion roubles (£409 million), up from 18 billion roubles (£349 million) a year earlier.

The tyremaker’s pre-tax net profit (EBIT) reached 486 million roubles (£9.4 million), starkly contrasting with its 498 million rouble (£9.7 million) loss in 2005. This positive trend has been attributed to the company’s large-scale restructuring and modernisation, as well as product portfolio optimisation and price increases.

A division of Sibur Holding, Sibur Russian Tyres was established in 2006 and incorporates the organisation’s Yaroslavsky Tyre Plant, Omskshina, Voltyre Prom, Uralshina, Matador Omskshina JV and Saransky RTI Plant. In its native Russia the company possesses a 35 per cent market share. For agricultural tyres this figure is much higher – about 70 per cent – and the company exports in the vicinity of half a million OTR tyres every year. While at present only a small proportion of these go to the UK and Western Europe, the company plans to change all this. Sibur-Russian opened an office in Germany following last year’s Reifen show in Essen, and they plan to use the Brityrex exhibition as a vehicle for increasing their UK presence.