Four tyre companies release September results

Recently, four Taiwanese tyre manufacturers, Cheng Shin, Nankang, Federal and Kenda, successively announced their September results.

In September, Cheng Shin’s operating revenue was approximately NT$8.875 billion (about 244 million pounds, 280 million euros), an increase of 13.03 per cent over the same period last year. In the first three quarters, Cheng Shin’s operating revenue was NT$75.329 billion (about 2.072 billion pounds, 2.38 billion euros), a year-on-year decrease of 2.69 per cent. It is reported that from January to May, the monthly operating revenue of the tyre company was less than the same month of the previous year. This situation has gradually improved since June.

The operating revenue of Nankang was NT$563 million (about 15.48 million pounds, 17.79 million euros), a year-on-year decrease of 18.54 per cent. From January to September, the company’s operating revenue was NT$5.834 billion (about 160 million pounds, 184 million euros), a decrease of 7.31 per cent from last year. The data disclosed by Nankang shows that their cumulative operating revenue in the first half of the year only decreased by 1.82 per cent year-on-year, which means Nankang’s operating revenue in the third quarter fell more seriously compared to last year. It is reported that from July to August, Nankang’s monthly revenue fell by 10.83 per cent and 24.81 per cent year-on-year, respectively.

Federal’s operating revenue in September was NT$154 million (about 4.235 million pounds, 4.866 million euros), a year-on-year increase of 56.16 per cent. From January to September, the Federal’s operating revenue reached NT$1.265 billion (about 34.79 million pounds, 39.97 million euros), a year-on-year increase of 3.03 per cent. It is worth noting that the 3.03 per cent growth rate means the tyre maker’s cumulative operating revenue surpassed 2021 figures for the first time this year. Data show that the Federal’s recent performance for several consecutive months is much higher than last year’s. Since June, the Federal’s monthly operating revenue has increased by 20.53 per cent (June), 54.07 per cent (July), and 47.97 per cent (August) compared with last year.

The operating revenue of Kenda in September was NT$3.484 billion (about 95.81 million pounds, 110 million euros), an increase of 18.96 per cent year-on-year. From January to September, Kenda’s accumulated operating revenue was NT$30.246 billion (about 832 million pounds, 956 million euros), an increase of 13.51 per cent over the same period in 2021. The tyre maker’s revenue was lower than last year in January and April, and the other seven months were up year-on-year.