On 18 October, Chinese tyre manufacturer Sailun announced its primary financial data for the first three quarters 2023. Data disclosed by the tyre company showed that revenue in the first nine months was close to 20 billion yuan, reaching 19.01 billion yuan (approximately £2.13 billion; €2.45 billion), a year-on-year increase of 13.72 per cent.
Following Continental’s mid-January preview of its key figures for the past financial year, the tyre and automotive supplier has officially released its 2022 full-year figures.
Brake manufacturer Brembo has reported third quarter revenues of 1,559.9 million euros (-20.9 per cent compared to the previous year). Pre-tax profits (EBITDA) amounted to 267.1 million euros. Meanwhile EBITDA and EBIT margins of 17.1 per cent and 7.1 per cent respectively were described as “in line with the previous year.”
Sumitomo Rubber Industries, which is active in Europe with its Falken brand, has published third-quarter results which show that group-wide sales fell by 16.1 per cent in the first nine months of the current year, while at the same time earnings evaporated to only a third of the previous year’s figure.
Football magnates such as Arsenal’s second-largest shareholder Alisher Usmanov and Chelsea’s Roman Abramovich may have lost nearly losing $809 million (£516 million) $450 million (£287 million) already with the collapse of the rouble, but Pirelli’s Marco Tronchetti Provera remains optimistic about the tyre maker’s chances in Russia.
The recession had a disproportionately large impact on the haulage industry. With many firms going to the wall and others trimming their fleets right back and running their tyres to death, this all had a similarly big impact on the truck tyre business too. Back in 2009 Tyres & Accessories observed that the combination of shrunken demand and aggressive competition from up-and-coming manufacturers (namely Hankook at that time) really shook the market up. Five years later, comparing the market then and now reveals that this “shake-up” trajectory continues well into the new decade, with both Hankook and Giti occupying significant market share positions that simply were not feasibly early in the new millennium.
The latest Pirelli tyre market watch figures suggest demand is continuing to improve in the European market in both the original equipment and replacement sectors.
First off the European car tyre market (excluding Russia) showed a positive trend in April despite the unfavourable comparison.
The European Tyre and Rubber Manufacturers Association (ETRMA) has welcomed first quarter 2014 figures compile from members’ sales and showing the years has got off to a good start. However, we also have to remember that the comparison with the same period 2013 is putting the figures against a low base.
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Continental
Brembo
Source: Sumitomo Rubber Industries