analysts Archives - Page 15 of 49 - Tyrepress

Posts

India to Host ANRPC Annual Rubber Conference

India has been chosen as the venue for the third annual rubber conference organised by the Association of Natural Rubber Producing Countries (ANRPC). The conference is to be held on October 6 in Cochin, Kerala State, and the organiser reports than more than 120 international participants have already registered to participate. The theme of the on-day conference is “Natural Rubber Industry in the New Decade: Opportunities, Challenges and Strategies”, and the ANRPC says it will be unique in providing an international meeting point and an ideal platform for meaningful interactions and networking between rubber industry players, policy makers, researchers and analysts across countries.

6th August 2010/by Tyrepress Editors

Hankook on Track to Achieve Planned European Market Growth

During the second quarter of 2010 Hankook Tire’s sales in Europe put the tyre maker in a good position to achieve its growth goals within the region. Year-on-year growth in the three months to June 30 was 17.8 per cent, with sales of products from its Dunaújváros plant in Hungary increasing 20.3 per cent year-on-year following a 17 per cent year-on-year growth in the first quarter.

3rd August 2010/by Tyrepress Editors

Pirelli Second Quarter 20% Ahead of Analysts’ Consensus

Financial analysts have described Pirelli Spa’s second quarter 2010 results as a “symbolic quarter” after the group, led by its tyre sales, posted results roughly 20 per cent ahead of analysts expectations and unexpectedly increased its 2010 earnings targets. The group increased its sales targets to 4.8 – 4.9 billion euros (from 4.6-4.7 billion) and is targeting EBIT margins 7 per cent versus 6.5 per cent previously.

30th July 2010/by Tyrepress Editors

Pirelli Reports Reports Strong 1H, Ups Targets

Pirelli Spa has reported that the firm closed the first half of 2010 with revenues of 2,426.5 million euros (1H 2009: 2,026.2 million euros), up 19.8 per cent. Pre-tax profits (EBIT) grew 62.8 per cent to 193.4 million euros (2009: 118.8 million euros). Net income of continuing operations more than doubled to 80.8 million euros, compared with 30.3 million euros in the first half of 2009. Such was the success of the tyre business in the first half, the company raised its revenue target. Executives now expect revenues to rise 15 per cent organically compared with the target of more than 10 per cent organic growth estimated in May. Pirelli also announced that it will present its new 2011-2013 three-year plan to the financial community in November.

29th July 2010/by Tyrepress Editors

Hankook Results Counter ‘Lacklustre’ Analyst Expectations

Hankook recent record second quarter results contradict the negative predictions of some financial analysts that when Hankook Tire kicks off the second quarter earnings season for auto/auto part makers on 20 July, it will set the tone for a “lacklustre” set of results from the likes of Hankook, Kumho and Nexen. In an investor’s note dated 1 July 2010, Deutsche Bank research analyst Sanjeev Rana had commented: “We expect tyre makers such as Hankook and Nexen Tire to report in line or slightly below consensus results due to the burden of higher rubber prices.” It appears these reports failed to take into account the huge profit jumps of 501 per cent and 43 per cent in the first quarter 2010 from Hankook and Nexen respectively and an 18 per cent increase in sales from Kumho – all of which surprised analysts at the time.

23rd July 2010/by Tyrepress Editors

Michelin Updates Analyst Consensus

Michelin's Investor Relations Department has updated its company consensus. The figures presented in the consensus are based upon data published by financial analysts who monitor the Michelin share, or directly collected from them. The average of the analysts’ responses anticipate full-year 2010 net sales of 16,772 million euros, increasing to 17,979 million in 2011 and 18,832 million euros in 2012. The analysts’ average figure for operating income and operating margin in 2010 is 1,138 million euros and 6.8 per cent respectively. For 2011 these figures are 1,436 million euros and 8.1 per cent, and 1,696 and 9.0 per cent for 2012. The average estimate for net income this year is pegged at 637 million, while in 2011 and 2012 net income is expected to rise to 870 million and 1,041 million respectively.

16th July 2010/by Tyrepress Editors

Paper: Continental Should Sell More Debt Soon

Continental AG should strike while the iron is hot and sell more debt while the market is in a receptive mood. That’s the view of The Wall Street Journal’s Michael Wilson, who explained in an article published today (14 July 2010) that the company needs the money to service its 8.2 billion euro syndicated credit facility, which is due to be repaid in August 2012:

“Since the start of this year, the company has been promising to issue bonds, the proceeds from which will be used to repay the facility. However, volatility in capital markets during the start of this year meant it was only last week that the company felt confident enough to actually launch a deal.”

14th July 2010/by Tyrepress Editors

Continental Shares Rebound on Improved Second Quarter Outlook

Shares in automotive supplier Continental AG “jumped” in response to the company upgrading its predictions for second quarter results on 2 July. While the full audited results for the second quarter and first half of 2010 are not due to be released until 29 July, according to first preliminary figures, unaudited sales for the first half of this year increased by about 38 per cent to approximately 12.5 billion euros compared with 9.063.2 million in 2009. On this basis, adjusted EBIT is expected to amount to at least 1.2 billion euros (2009: 248.8 million).

8th July 2010/by Tyrepress Editors

Analysts Expect ‘Lacklustre’ 2Q from Korean Tyremakers

When Hankook Tire kicks off the second quarter earnings season for auto/auto part makers on 20 July, it will set the tone for a “lacklustre” set of results from the Hankook, Kumho and Nexen, according to Deutsche Bank. In an investor’s note dated 1 July 2010, Deutsche Bank research analyst Sanjeev Rana: “We expect tyre makers such as Hankook and Nexen Tire to report in line or slightly below consensus results due to the burden of higher rubber
prices.”

7th July 2010/by Tyrepress Editors

F1 Tyre Supply a $70M Per Annum Investment – Deutsche Bank

Deutsche Bank analysts have estimated Pirelli’s investment in Formula One sole tyre supply between 2011 and 2013 as being US$70 million per season. This annual sum, which may represent a figure at the conservative end of the spectrum, is seen by the bank as positive news for shareholders as it should improve brand equity without affecting profit and loss. As Tyres & Accessories has already reported, Pirelli intends to finance its F1 activities at least in part by reducing its expenditure in other motorsport sponsorship, including WRC.

1st July 2010/by Tyrepress Editors

Schaeffler Preparing For Conti Merger

As of June 28, the Schaeffler Group has consolidated its operational businesses and its share in Continental AG under a corporation called Schaeffler GmbH. This company, based in Herzogenaurach, Germany, will function as a management holding for the operational businesses of the Schaeffler Group and is wholly owned by the Schaeffler family.

29th June 2010/by Tyrepress Editors

Natural Rubber Prices Continue Climbing

Bloomberg reports that natural rubber prices continued rising for the third straight day on fears that heavy rains will hurt output in Thailand. Tokyo rubber futures jumped 1.5 per cent on Thursday after a 3.8 per cent rise earlier in the week. A monsoon is dumping heavy rains on many parts of Thailand, the world’s largest natural rubber producer, and are not expected to dissipate soon.

25th June 2010/by Tyrepress Editors

Michelin Gives 1,000 Stoke Workers World Cup Coverage

Michelin’s Stoke-on-Trent facility is taking a flexible approach to its employees’ wish to watch the World Cup match with Slovenia this afternoon. The manufacturer stated that, while it was impossible to allow its workforce to leave the site en masse, line managers have been given the discretion to allow their staff to watch the game on televisions placed around the Campbell Road location.

23rd June 2010/by Tyrepress Editors

Apollo Shares Drop Following Lock-Out

Shares in Apollo Tyres Ltd have fallen around five per cent since the announcement of a lockout at its Perambra factory. This plant accounts for nearly a quarter of Apollo’s global tyre production and has a capacity of 850 tonnes per day, yet even before the lockout it was not reaching anything near this amount – and it is thus not surprising that investors are showing signs of nervousness.

17th June 2010/by Tyrepress Editors

Analysts Raise Conti Earnings Estimate 20%

Analysts at Deutsche Bank has upgraded Continental AG’s stock rating to “buy” after raising its earnings per share (EPS) estimates by more than 20 per cent for 2010 and 2011. According to the analysts the revision is entirely attributable to better volumes: “With car production in the second quarter close to the first quarter, our new second quarter adjusted EBIT estimate is 540 million (versus 400 million euros previously) and our full year adjusted EBIT is upgraded by 13 per cent to 1.87 billion euros (consensus: 1.75 billion).” Writing in an investor’s note published on 11 June, the analysts explained that this corresponds to an EBIT margin of 8.1 per cent and to an adjusted EPS of 3.9 euros, 8 per cent above consensus.

11th June 2010/by Tyrepress Editors