Bridgestone net income up 7.4% in nine-month financials
On 10 November Bridgestone reported group net sales of 2.665 trillion yen (£14.586 billion; 18.542 billion euros; US$23.137 billion) for the first nine months of 2014. Sales were up 2.3 per cent compared with the same period in 2013. Operating income amounted to 342.468 billion yen (£1.873 billion; 2.382 billion euros; $2.970 billion), up 7.4 per cent. Net income totaled 225.670 billion yen (£1.234 billion; 1.569 billion euros; $1.957 billion), up a strong 15.2 per cent compared with the first nine months of 2013.
Tyre sales contributed 2.234 trillion yen (£12.234 billion; 15.554 billion; $19.387 billion) to the total, up 1 per cent compared with the same period in 2013. Meanwhile tyres added 310 billion yen (£1.7 billion; 2.162 billion euros; $2.693 billion) to operating income. The tyre contribution to operating income was up 7 per cent compared with the same time a year ago.
Bridgestonenine month 2014 results in brief
| In yen | In £ sterling | % change | |
| Tyre sales | 2.234 trillion yen | £12.234 billion | +1 |
| Tyre operating income | 310 billion yen | £1.7 billion | +7 |
Source: Bridgestone
As you might expect, car and light truck sales in China increased “strongly”. “Strong” increases in truck and bus tyre unit sales in North American and “steadily” growing unit sales in Japan are likely to have helped too. This was repeated in Europe, where truck tyre sales are said to have increased “firmly”. However units sales in the European passenger and light vehicle segment were described as “unchanged” compared with the same period in 2013. OTR tyre unit sales were down on 2013 due to “inventory adjustment” at mines.
According to the company, Bridgestone’s results were impacted positively by “signs of gradual recovery” in the domestic Japanese market which are said to have come about due to governmental economic and monetary policies. Likewise the US economy is described as being in “gradual recovery”, leading to increased consumer spending. Europe is described as being subject to “geopolitical risks”, but showing signs of recovery nonetheless. Asia – especially China and India – are said to be slowing down.
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