Tirendo’s presence felt in Delticom Q1 results
Net income at online tyre retailer Delticom took a dive in the first quarter of 2014, despite a year-on-year rise in sales revenue. While the addition of Tirendo sales and an early start to the summer season drove revenues up 16.4 per cent to €94.3 million in the three months to 31 March 2014, the good news ended there. EBITDA declined 26.0 per cent to €2.4 million in the first quarter, and ppa-effect pushed EBIT down to €0.3 million, a year-on-year reduction of 88.4 per cent. EBIT margin was 0.3 per cent in the first quarter of 2014, as opposed to 3.1 per cent a year earlier. Net income shrank – to use the word Delticom applied in its 3-Month report – by 98.8 per cent, to €20,400.
Continue ReadingNexen leading Korean bloc 1Q results
Although it is the smallest of the three Korean tyre makers, Nexen has surprised some observers by being the only company in the country to increase both sales and operating profits in the first quarter of 2014. Of course the figures also show that both Kumho and especially Hankook remain significantly bigger than Nexen in terms of both measures, but the news caps a strong quarter for Nexen, which also announced the opening of a European factory and a number of awards and OE deals in the period.
Continue ReadingApollo to build 500 million euro tyre factory in Eastern Europe
Apollo Tyres’ board has approved plans to build a new tyre factory in “Eastern Europe”, with 500 million euros earmarked for the project. According to the company, the greenfield project will see the tyre manufacturer invest half a billion euros over the next years, funded by “accruals and debt at the companys European subsidiary”. The capacity is expected to be 16,000 passenger car radial (PCR) tyres a day and 3000 truck and bus radials a day.
Continue ReadingApollo profits up 64% in fiscal 2013-14
Annual and final quarter results for Apollo Tyres’ 2013-14 fiscal year, which ended on 31 March, show a solid increase in net profit for the India-headquartered tyre maker. In the 12 months between the start of April 2013 and the end of March 2014, the company achieved net sales of Rs 133.1 billion (£1.3 billion); this represents year-on-year sales growth of four per cent. Full-year operating profit rose 19 per cent over the previous year to Rs 19.7 billion (£197.2 million), while operating profit margin rose from 12.1 per cent to 14.8 per cent. Net profit jumped 64 per cent year-on-year to Rs 10.1 billion (£101.1 million).
Continue Reading20% of tyres in Europe will be sold online by 2020
The influence online tyre retailing is growing so fast that 20 per cent of Europe tyres sales could take place online by 2020. That’s the view of market analysts at Frost & Sullivan, which also reports that the influence of the internet on the auto industry can be seen in the continuous growth of the eRetailing market for automotive parts in general. According to the analysts, eRetailing of automotive components has given aftermarket participants a fresh boost and presents a new sales channel dynamic enough to be in sync with evolving macro-economic conditions and also flexible enough to address customer needs by offering a personalized shopping experience.
Continue Reading![Dandelion rubber research results in GreenTec award for Continental, IME](https://www.tyrepress.com/wp-content/uploads/2014/05/np-04_Winner024.jpg)
Dandelion rubber research results in GreenTec award for Continental, IME
The ‘Rubin’ project jointly conducted by Continental and the Fraunhofer Institute for Molecular Biology and Applied Ecology (IME) has been honoured with a GreenTec Award. A 60-member jury panel determined the two parties’ work on producing natural rubber from dandelions worthy of a 2014 award in the ‘Automobility’ category. The awards ceremony took place in Munich, Germany on 4 May at the start of the IFAT environmental technology trade show. A total of 14 awards were given out.
Continue ReadingNew Volkswagen record as 1.99M passenger cars delivered
Volkswagen has delivered nearly two million passenger cars in the first four months of 2014, setting a new record for the period. 1.99 million vehicles were handed over to customers in the period to April, representing an increase of 4.6 per cent (January-April 2013: 1.91 million). Christian Klingler, board member for sales and marketing for the Volkswagen Group, attributed the success to “good sales developments in China and Europe” and “sustained high demand” for heritage products such as the Golf, now in its seventh generation.
Continue ReadingBridgestone markedly lifts margins, improves European performance in Q1
During the first quarter of fiscal 2014, Bridgestone achieved net sales of 863.6 billion yen (£5.0 billion), an 8.7 per cent year-on-year increase on the 1 January to 31 March 2013 quarter. Operating income was 116.3 billion yen (£677.1 million), up 56.3 per cent year-on-year, while operating margin rose from 9.4 per cent a year ago to 13.5 per cent in the first quarter of 2014. Net income increased 66.9 per cent year-on-year to 71.9 billion yen (£418.6 million).
Continue Reading![Dmack a finalist in Cathay Pacific China Business Awards](https://www.tyrepress.com/wp-content/uploads/2014/05/Dick_Dmack.jpg)
Dmack a finalist in Cathay Pacific China Business Awards
Carlisle based tyre brand Dmack has been awarded a place in the final of the Cathay Pacific China Business Awards. Local news source North West Evening Mail reports that the company is shortlisted in the Rising Star category. The awards recognise UK and Irish businesses demonstrating existing positive returns and ongoing plans for future investment in China and Hong Kong, with the Rising Star award given to those opening Chinese operations in the last five years.
Continue ReadingBridgestone merging China, Asia Pacific tyre business units
Under restructuring measures Bridgestone is undertaking in the Asia region, Bridgestone Asia Pacific Pte Ltd. (BSAP) will expand its area of responsibility to include tyre operations in China. From 1 July, Bridgestone Asia Pacific – henceforth abbreviated to BSCAP – will become the head office in charge of both BSAP and Bridgestone (China) Investment Co. Ltd., the company’s current Chinese head office.
Continue ReadingCooper to pay 10.5 cent dividend
Cooper Tire & Rubber has announced a quarterly dividend of US 10.5 cents per share on common stock, payable 27 June 2014 to stockholders of record at the close of business 2 June 2014. This will mark the 169th consecutive quarterly dividend paid by Cooper Tire & Rubber Company.
Continue Reading![Q1 operating profit a ‘record’, says Yokohama](https://www.tyrepress.com/wp-content/uploads/2014/05/Yokohama-Q1_tb.jpg)
Q1 operating profit a ‘record’, says Yokohama
Yokohama Rubber reports that its operating income reached a record high in the first quarter of 2014. On the back of net income of net sales that were up 9.6 per cent year-on-year to 139.9 billion yen (£810.9 million), operating income jumped 54.6 to 11.7 billion yen (£67.8 million). Net income, at 6.5 billion yen (£37.7 million), was 14.8 per cent higher than in the first quarter of 2013. Sales and earnings increased in each of Yokohama’s three business sectors: tyres, industrial products, and other products. The company says its tyre business’ strong performance reflected robust growth in Japan and sales growth overseas. Operating income benefited in each business sector from a downward trend in raw material prices and from the weakening of the yen, as well as from sales growth.
Continue Reading![Sailun develops European tyre lines as Asian acquisitions continue](https://www.tyrepress.com/wp-content/uploads/2014/05/WEB-Martin-West.jpg)
Sailun develops European tyre lines as Asian acquisitions continue
April reports of the Sailun Group’s move to raise capital of “up to 1.2 billion yuan” (c. £114 million) through the private placement of shares is just the latest positive step in the development of a name still in its adolescence. While the merger with Jinyu in 2012, only its tenth year in existence, placed the company alongside larger manufacturers in China, overseas developments have followed, with a large factory in Vietnam online since February. Developing a European base has also come quickly, with Sailun establishing an office headed by managing director Martin West in Solihull by 2010, who has worked quickly to build partnerships with local wholesalers in the various European markets. Meeting West in Solihull, Tyres & Accessories asked how corporate growth has informed Sailun’s approach to the European market.
Continue Reading![Trelleborg confirms Tractor of the Year participation, launches TM1000 campaign](https://www.tyrepress.com/wp-content/uploads/2014/05/Tractor-of-the-Year_tb.jpg)
Trelleborg confirms Tractor of the Year participation, launches TM1000 campaign
Once again, Trelleborg will partner with the Tractor of the Year awards. The latest round of this agricultural sector honour kicked off with an event in France on 6 and 7 May; at the “Tractor of the Year 2015: Let the challenge begin” function in Provence-Alpes-Côte dAzur, the Swedish tyre maker also launched a new advertising campaign to promote the qualities of its TM1000 High Power agricultural tyre.
Continue ReadingCooper Tire announces investor day webcast details
On 15 May, Cooper Tire & Rubber will webcast its Investor Day presentation live, starting at 8:30am US EDT (1:30pm BST, 2:30pm CEST). Cooper chairman, chief executive officer and president Roy Armes and chief financial officer Brad Hughes, as well as other members of the company’s executive leadership team, will review business operations, company financials and Cooper’s long-term strategic plan.
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