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Indian tyremakers expected to achieve 7-8% sales growth

Tyre manufacturers are likely to see revenue growth of between 7 and 8 per cent this financial year, according to Crisil Rating data. The sales growth has reportedly been driven by a 3 to 4 per cent increase in both “realisations and volume”. Revenue will grow at “a single digit for the second straight year (albeit nearly double that of last fiscal)”, according to the analysts, who added that the results come in the context of growth “at a compound annual growth rate of 21 per cent between fiscals 2021 and 2023”.

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Related news:

  1. Quarter Figures Reveal Mixed Results for Indian Manufacturers
  2. India’s tyre sector heavily affected by import duty structure – survey
  3. European operations lead the way as Apollo Tyres reports 16% increase in profitability
  4. Ceat: Higher input costs squeezing margins
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Strong sales Q3 sales and profit growth for Yokohama

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For the first three quarters of 2024, The Yokohama Rubber Co. Ltd. reported sales revenue of ¥782,906 million (+13.1% year-on-year), and business and operating profit of ¥85,772 million (+63.8% YoY). Tire segment sales revenue totalled ¥701,243 million (+14.4% YoY), accounting for 89.6 per cent of Yokohama Rubber Group’s consolidated sales revenue.

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Related news:

  1. Yokohama profits tumble 49%
  2. Yokohama remains profitable in 1H 2020, despite coronavirus
  3. Yokohama Rubber reports record 2022
  4. Yokohama Rubber back in the black in Russia
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Apollo Tyres – steady revenue growth amid challenging conditions in H1 FY25

Apollo Tyres Ltd has reported modest revenue growth for the first half of the financial year that ends 31 March 2025 (FY25), reflecting strong replacement segment performance in India and a robust passenger vehicle segment contribution in Europe. The company’s performance reflects a mixed landscape, with supply chain costs and inflationary pressures continuing to affect profitability, particularly in India, its largest market.

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Related news:

  1. Apollo Tyres looking for ‘healthy topline growth’ after 22% sales increase in FY 2017-18
  2. Apollo Tyres: Stable sales in Europe, but profits further in the red
  3. Apollo Tyres: Cost of raw materials, chip shortage impacts on operating performance
  4. Apollo Tyres: Q1 2022-23 financial results
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SRI reports strong business profit growth amid global challenges

Sumitomo Rubber Industries, Ltd. (SRI) has announced its financial results for the nine months ending 30 September 2024, showcasing moderate revenue growth and a significant increase in business profit, despite ongoing challenges in the global economic landscape and sluggish tyre sales in key markets.

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Related news:

  1. SRI closing USA tyre plant
  2. SRI to “optimise” tyre business portfolio
  3. Sumitomo Rubber reports strong Q1 2024 profit growth
  4. New year, new business structure – SRI making changes in North America
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JK Tyre reports moderate revenue & profits in challenging Q2 2025

JK Tyre & Industries Ltd. has announced its financial results for Q2 FY2025 and H1 FY2025, the quarter- and half-year periods ending 30 September 2024. The tyre maker’s latest figures show a decline in key metrics year-on-year amidst challenging market conditions. Despite these headwinds, the company’s strategic focus on export growth and innovative product development provided partial offset to slower domestic performance. Operating challenges, including fluctuating raw material prices, dampened profitability margins.

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Related news:

  1. JK Tyre lifts profits in FY24
  2. JK Tyre reports 33% increase in Q1FY25 Net Profit
  3. JK Tyre profits rise 18% in July-September quarter
  4. Raw materials, tyre imports hammer JK Tyre in April-June quarter
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Goodyear reports net loss of $34 million in third-quarter of 2024, EMEA recovering

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The Goodyear Tire & Rubber Company has reported third quarter 2024 sales of $4.824 billion, down 6.2 per cent year-on-year, resulting in a net loss of $34 million compared with a net loss of $89 million a year ago.

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Related news:

  1. Goodyear to cut 5% of salaried staff globally, $80 million 4Q loss expected in EMEA
  2. Integration on-track: Goodyear reports 16% growth plus greater synergies from Cooper Tire acquisition
  3. Europe to bear 40% of Goodyear’s global job cuts
  4. Goodyear reports losses of $104 million in Q4 2022, points the finger at Europe
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Hankook reports 18.6% increase in operating profit

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Hankook has reported healthy increases in profitability and high-performance tyre market share in third-quarter 2024 financial results that also indicate that sales grew 4.1 per cent year-on-year.

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Related news:

  1. Hankook Tire: Lower profits in H1 2019
  2. Earnings decrease, but larger tyre sizes grow in importance for Hankook Tire
  3. Hankook grows operating profit, withstands pandemic year
  4. Hankook Tire: Global issues affect Q3 2021 sales, profit
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Sentury’s production and sales increased in the first nine months

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From January to September, Sentury’s revenue and net profit reached 6.34 billion yuan (about £690 million; €820 million) and 1.73 billion yuan (about £190 million; €220 million) respectively.

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Related news:

  1. Chinese listed tyre companies release third-quarter results
  2. Chinese aviation fund invests in, partners with Sentury Tire
  3. Georgia selected as location for $500 million Sentury Tire US factory
  4. Chinese tyre makers off-shoring in Southeast Asia
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European replacement tyres drive Nexen’s Q3 sales of KRW 708.5 billion

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Nexen Tire has reported third-quarter 2024 sales of KRW 708.5 billion (£396.595 million; 474.829 million euros; US$514.418 million), up 2.3 per cent on last year. And KRW 52.3 billion in operating profit. Revenue growth in the third quarter was reportedly driven by higher sales in the European market, which grew by 11.9 per cent year-on-year. More specifically, Nexen reported strong winter tyre sales in Europe during the peak seasons of 2Q24 and 3Q24. Despite a slowdown in European original equipment (OE) market, tyre supply there is said to have remained stable “thanks to the company’s expanded supply to premium brands and increased brand recognition through marketing efforts such as the Manchester City partnership.”

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Related news:

  1. Bridgestone EMIA resuming manufacturing
  2. Voith buys Thyssenkrupp Services in UK
  3. Michelin launches bespoke European CrossClimate 2 all-season tyre
  4. European operations lead the way as Apollo Tyres reports 16% increase in profitability
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BKT reports healthy rise in profit for H1 2025

Balkrishna Industries Ltd. (BKT) has announced its financial results for the second quarter and first half of FY2025, demonstrating significant year-on-year growth in sales volume, revenue, and profitability.

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Related news:

  1. BKT profit rises 22% in 2021-22
  2. BKT: 67% more production, $2 billion turnover in 3 years
  3. Early 2016 opening for BKT R&D centre
  4. BKT preparing for 51-inch giant tyre production at $500 million plant
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Michelin sales drop, guidance down, results supported by replacement car tyre demand

Compagnie Générale des Établissements Michelin has reported that group sales fell to 20.171 billion euros in the first nine months of 2024, down 4.6 per cent compared with the same period in 2023. Within that group figure, Michelin’s Specialty tyre business was hit hardest, with sales down 9.1 per cent in the period to 4.882 billion euros (2023: 5.368 billion euros). At the other end of the spectrum, the Automotive segment – car tyre sales – was least affected by the overall decrease in turnover, with nine-month sales down 2.4 per cent to 10.356 billion euros (2023: 10.611 billion euros).

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Related news:

  1. Michelin temporarily closes some European factories, car tyre demand down 9%
  2. Tyre demand declining 15 to 26 per cent in 2020
  3. Collaboration is the future…or is it?
  4. Michelin reports 2,577 million euros of operating income
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Linglong increases profit in first three quarters

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Linglong reports net profit attributable to shareholders in the first three quarters was between 1.65 billion yuan (about £179 million; €215 million) and 1.75 billion yuan (about £190 million; €228 million). At the same time, the tyre manufacturer said it actively upgraded its products in 2024 and continued to make structural adjustments in the domestic and foreign retail and OE markets. In addition, the company’s second overseas base (its Serbia factory) has gradually released production capacity to support production and sales growth in overseas markets.

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Related news:

  1. Linglong EV OE reaches more than 6 million in 2022
  2. Thailand factory supports most of Linglong’s profits in 2023
  3. Linglong holds business investment talks with EBRD
  4. First look: Linglong Tire’s Serbia tyre factory
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Halfords sales go flat: Autocentres still supporting group, but tyre sales down

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Halfords Group’s like-for-like sales during the first six months of 2025 were flat (-0.1%). Those figures compare with a strong period the year before where first-half 2024 like-for-like sales grew 8.3 per cent. Writing in a trading update for the 26 weeks to 27 September 2024 and published 22 October 2024, essentially the company’s first-half 2025 figures, executives shared how their “controlling the controllables” plan is on-track. However, financial analysts noted that “consumers are still cautious” and that Halfords’ group’s in-line results are due to cost-savings rather than revenue growth.

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Related news:

  1. Halfords Autocentres revenue up 70% year-on-year; 14.3% like-for-like
  2. Recruitment roadblock reduces Halfords profitability, but tyres continue to drive growth
  3. Bridgestone invests $3 million in Halfords’ Avayler system
  4. Halfords reports £1 billion annual group revenues, a year earlier than planned
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Guizhou Tyre can produce 57-inch tyres

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In the first half of 2024, Guizhou Tyre’s revenue and net profit were 5.174 billion yuan (about £560 million; €670 million) and 427 million yuan (about £46 million; €55 million), up 16.51 per cent and 25.67 per cent year-on-year. During the reporting period, the company produced 4.7942 million tyres, up 18.81 per cent year-on-year, and sold 4.7175 million tyres, up 19.75 per cent.

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Related news:

  1. Guizhou/Advance starts European company, TUV SUD TBR testing, car tyre range and talk of new tyre plant
  2. Guizhou (Advance) Tyre plans to expand EU sales
  3. Guizhou Tyre reports increased production and sales
  4. Guizhou Tyre terminates ‘all-steel tyre project’
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“Highest revenue” – Ceat announces Q2 FY24-24 financial results

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Indian tyre maker Ceat Limited has announced its unaudited results for the second quarter of its 2024-25 financial year, which ended on 30 September 2024. On a consolidated basis, the Company’s revenue closed at Rs 33.30 billion (£304.78 million), EBITDA margin stood at 11.1 per cent, a contraction of 102 bps vs Q1 FY24-25. Net profit stood at Rs 1.21 billion (£11.19 million).

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Related news:

  1. Ceat Q1 24-25 results: Strong growth despite margin pressures
  2. Ceat lifts profits in Q2 FY23-24
  3. Ceat: Higher input costs squeezing margins
  4. Ceat Q1 2024 financial results
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