Bridgestone: 2021 operating profit up 90%

Reporting its results for the 2021 financial year, Bridgestone Corporation confirms that its “global tyre sales grew substantially, especially in the premium segment.” Revenue in the 12 months to 31 December 2021 amounted to 3246.2 billion yen (£20.8 billion), a 20 per cent increase compared with 2020. Adjusted operating profit rose 90 per cent to 394.3 billion yen (£2.5 billion) with a 12.1 per cent margin, while profit attributable to owners of parent came to 394.0 billion yen.

Tyre sales were higher than in 2020 for all segments, but generally slightly below 2019 results. Although cuts in vehicle production due to the semiconductor shortage affected Bridgestone’s original equipment business, demand for replacement tyres remained firm. For all regions, the company reports favourable sales of aftermarket passenger car and light truck tyres as well as substantially increased sales of replacement market truck and bus tyres.

Bearing in mind uncertainties such as exchange rate fluctuations, raw material prices and international political conditions, as well as the ongoing Covid-19 situation, Bridgestone anticipates revenue of 3650.0 billion yen (£23.4 billion) in 2022, a 12 per cent increase compared with 2021. It projects an adjusted operating profit of 425.0 billion (£2.7 billion), up eight per cent on last year, while it expects profit attributable to owners of parent will decrease 29 per cent to 280.0 billion yen (£1.8 billion).