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Halfords Autocentres revenue up 70% year-on-year; 14.3% like-for-like

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Halfords

Halfords Group has reported very strong financial figures that show group revenues amounted to £765.7 million in the first half of 2023. Of this figure, £265.2 million was generated by the Halfords Autocentres business. And what’s more, the latest projections suggest that the services part of the wider Halfords group, within which Autocentres is found, will account for the majority of revenue by 2024. Currently service-related sales represent 42.6 per cent of group revenues in the period and are expected to reach circa 48 per cent of sales on an annualised basis following the acquisition of Lodge Tyre.

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Related news:

  1. McConechy’s Tyre Service Ltd sold to Halfords for £8.5 million
  2. Halfords Autocentres reports 89.6% increase in pre-tax profit – next stop ‘market leadership’
  3. Lodge Tyres consolidated in 2020, growing in 2021
  4. Autocentres continue to drive Halfords sales post National Tyres purchase
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European operations lead the way as Apollo Tyres reports 16% increase in profitability

Apollo Tyres

At the end of the second quarter ended 30 September 2022, Apollo Tyres Ltd reported double-digit increases in sales and profitability that point to even great performance in the first-half of the company’s current financial year. And the data shows that company’s European operations are at the forefront of leading the company’s strong performance.

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  1. Stirred up for growth – Apollo Vredestein prepares for a greater European presence with new tandem mixer
  2. Apollo Europe profits fall sharply in Q2
  3. No European Plant for Apollo, Vredestein Plant Gets Nod
  4. Apollo aims for leadership in Indian two-wheel tyre market, Europe next
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Yokohama Rubber reports record business profit in 9-month 2022 figures

Yokohama

The Yokohama Rubber Co., Ltd. has reported nine-month 2022 financial results showing record profitability. Despite a 23.6 per cent decline in operating profit to 45.3 billion yen, Yokohama reported a 24.2 per cent increase in business profit, which amounted to 46.1 billion yen (£281.579 million; 321.040 million; US$330.998 million); and a 33.7 per cent increase in sales revenue, to 615.8 billion yen (£3.761 billion; 4.288 billion euros; $4.421 billion).

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  1. Yokohama record first half sales and operating income
  2. Yokohama remains profitable in 1H 2020, despite coronavirus
  3. Yokohama named on CDP 2019 Climate Change A List
  4. Yokohama Rubber selected for ESG indices
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Goodyear EMEA reducing tyre production, exiting TrenTyre after third-quarter operating income fell $51 million

Goodyear’s latest financial results show that third-quarter 2022 group sales grew 7.6 per cent to $377 million up from $5.311 billion and $4.934 billion respectively the preceding two years. According to the company, the increase was driven by pricing actions that drove revenue per tyre (excluding foreign currency) 16 per cent higher than Q3 2021 level. At the same time, sales were impacted by lower tyre volumes, which declined 3 per cent.

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Related news:

  1. Goodyear reaffirms 2015 targets with ‘strong’ 2Q results, despite EMEA troubles
  2. Goodyear implements direct online sales in US
  3. Bridgestone temporarily closes, slows tyre production at European factories
  4. Goodyear approached Cooper Tire regarding multi-billion-dollar acquisition
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Volume and price-mix performance current keys to success of premium tyre brands

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Jefferies

Michelin’s third-quarter 2022 sales outperformed consensus expectations by 3.9 per cent. Sharing its third-quarter 2022 financial results, Michelin confirmed its full-year 2022 adjusted pre-tax profit (EBIT) guidance, but it also reduced its free-cash-flow expectations by 0.5 billion euros. But much of the company’s relative success depends on its strong price-mix performance, a factor that is equally important to other premium tyre brands. Here, Tyres & Accessories reads Michelin’s recent third-quarter 2022 financial results in light of the consensus expectations and a recent investor’s note published by Jefferies.

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Related news:

  1. Michelin: Q1 sales up 19% to 6.5 billion euros
  2. Michelin: YTD sales up 15.6% to €17.2 billion
  3. Michelin third-quarter 2022 sales ‘strong’ – analysts
  4. Back in line with 2019 levels: Michelin publishes full-year 2021 results
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Chinese listed tyre companies release third-quarter results

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Linglong

At the end of October, several listed companies, including Linglong, Triangle, Sailun, Aeolus, Jiangsu General, Guizhou Tyre (Advance), Doulestar and Sentury, released their operating results for the third quarter. In the third quarter, Linglong produced 17,015,900 tyres and sold 16,623,600 tyres, with a revenue of about 4.37 billion yuan (about 520 million pounds, 600 million euros) and a net profit of about 110 million yuan (about 13.1 million pounds, 15.22 million euros).

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  1. The top 10 listed Chinese tyre companies 2022
  2. Sailun rising: China’s listed tyre companies ranked in 2022 Q3
  3. Chinese tyre makers off-shoring in Southeast Asia
  4. Show review: Reifen China 2014
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Sailun: Record operating income in H1 2022

In the first half of 2022, Sailun Group’s operating income rose 21.28 per cent year-on-year to a record high of CNY 10.493 billion (£1.29 billion). Net profit attributable to the listed company’s shareholders rose 1.6 per cent year-on-year to CNY 715 million (£87.63 million), and net cash flow from operating activities amounted to CNY 457 million (£56.91 million), up 42.15 per cent year-on-year.

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Related news:

  1. SSE debut for new Sailun Group ticker symbol
  2. Sailun inaugurates upgraded acquired plant
  3. Sailun: New Supervisory Board chairman
  4. Triangle Tire publishes H1 2022 results
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Huayi’s tyre turnover totalled 4.968 billion yuan

On 30 August 2022, Shanghai Huayi, the parent company of Double Coin Tire Group first half results showing the company generated revenue of 4.968 billion yuan (about £614 million, 719 million euros), and operating costs were 4.559 billion yuan (about £564 million, 660 million euros). Within that, the revenue of all-steel radial tyres and semi-steel radial tyres was 4.6 billion yuan (about £569 million, 666 million euros) and 368 million yuan (roughly £45.51 million, 53.25 million euros).

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Related news:

  1. Jiangsu General investing US$300 million in Thailand tyre plant
  2. Prinx Chengshan invests £19 million in purchasing land for new Thailand tyre factory
  3. China’s GS Tire raises Cambodia investment to $300 million
  4. Guizhou Tyre reports increased production and sales
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Prinx Chengshan: Increased sales, lower profit in H1 2022

Prinx Chengshan Holdings Limited and its subsidiaries report selling 9.394 million tyres during the six months to 30 June 2022, a year-on-year increase of 3.3 per cent. From this total, 3.333 million were all-steel radial tyres and 5.919 million semi-steel radials. Cross-ply tyres accounted for some 142,000 pieces.

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  1. Prinx Chengshan: Profit down 24.7% despite higher revenue in 2021
  2. Prinx Chengshan appoints marketing & communications manager for Europe
  3. TÜV SÜD presents Prinx Chengshan certificate for DR606
  4. Prinx Chengshan to launch “Prinx” brand in Europe by the end of 2017
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Triangle Tire publishes H1 2022 results

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On 30 August, Triangle Tire published its 2022 semi-annual report, and this shows that the company achieved revenue of RMB 4.277 billion (£535.5 million) and net profit of RMB 217 million (£27.2 million) in the six months to 30 June 2022. Revenue in the second quarter of this period amounted to RMB 2.426 billion (£303.8 million), a 31 per cent increase over the first quarter; Q2 2022 net profit of RMB 159 million (£19.9 million) was 172 per cent higher than in the first quarter of the year.

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  1. Triangle Tyre celebrates 40th anniversary
  2. Triangle to upgrade PCR and TBR production with IPO funds
  3. Triangle Tire net profit down 2.6% in Q1 2017
  4. Prinx Chengshan: Profit down 24.7% despite higher revenue in 2021
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Guizhou Tyre reports increased production and sales

On 31 August, Guizhou Tyre released its semi-annual report. In the year’s first half, Guizhou Tyre produced 3.7005 million tyres, a year-on-year increase of 3.53 per cent, and sold 3.4447 million tyres, a rise of 1.07 per cent. During the same period, the tyre company’s revenue reached 3.949 billion yuan (about £490 million, 570 million euros), an increase of 13.16 per cent, and achieved a net profit of 160 million yuan (about £19.86 million, 23.12 million euros).

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Related news:

  1. Guizhou Tire begins $350 million construction project on two China factories
  2. Shandong Yinbao Tyre Group Spreads Its Wings
  3. For Yinbao Tyre, imitation is the highest form of flattery
  4. Triangle and Goodyear in ‘long-term cooperation’
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Apollo Tyres: Q1 2022-23 financial results

During the three months to 30 June 2022, Apollo Tyres Ltd. respectively recorded 38 per cent and 14 per cent year-on-year increases in its Indian and European operations. Total revenue from operations for this, the first quarter of the tyre maker’s 2022-23 financial year, amounted to Rs 59.42 billion (£614.72 million) and was 26.9 per cent higher than during the previous year’s first quarter.

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Related news:

  1. Apollo Tyres maintains turnover, increases profits
  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 FY 2021-22 financial results
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Bridgestone EMIA has “acted quickly” to keep margins high

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On a global level, Bridgestone has managed to keep its return on sales at a high level in the first half of the year. And the EMIA region is no exception. While Bridgestone EMIA laid the foundations for the turnaround last year after years with return on sales close to or below zero, the Japanese manufacturer generated a return of 8.9 per cent in the second quarter after 9.6 per cent in the first quarter, resulting in a total of 9.2 per cent for the first half of the year (previous year: 4.9 per cent).

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Related news:

  1. Bridgestone 1H 2022 sales up 24.9%, but full-year EPS revised down on uncertainties
  2. Bridgestone: Operating profit down 3.1% in Q1 2018
  3. Bridgestone: Tyre business increases in significance in Q2 2018
  4. EMIA region drags down Bridgestone’s second quarter
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Bridgestone 1H 2022 sales up 24.9%, but full-year EPS revised down on uncertainties

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Bridgestone

Bridgestone sales revenues shot up 24.9 per cent to 1,886 billion yen (£11.632 billion; 13.764 billion euros) in the first half of 2022. However, Bridgestone’s continuing operations figures also show that operating profit dropped 1.4 per cent to 173 billion yen, resulting in 117 billion yen of profit attributable to owners (down 10.5 per cent compared with the same period in 2022). As a result, Bridgestone revised up its full-year revenue forecasts, but revised down its comparable full-year earnings per share estimates by 10 per cent from 397.58 yen per share to 357.93 yen per share.

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Related news:

  1. Bridgestone stock falls following analyst downgrade
  2. Toyo sells half its Bridgestone shares
  3. Toyo Tire net sales down 9.8% in Q1
  4. Biden bounce helps Japanese tyremaker share prices
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