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Trelleborg group sales relatively good, but tyre sales impacted

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Trelleborg

Trelleborg Group has reported “satisfactory” second quarter 2020 financial results “under the circumstances”, the company stated in its second quarter results. Specifically, Trelleborg Group organic sales declined 19 per cent, albeit with an improvement in the latter part of the quarter. As a result, net sales for the second quarter declined 18 per cent to 7,689 million Swedish krone. Pre-tax profits (EBIT) declined 29 per cent, corresponding to an operating margin of 12.3 per cent. At the same time, operating cash flow was strengthened “significantly”, according to the company.

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  1. Trelleborg reorganisation brings greater prominence to tyres
  2. Trelleborg: production unaffected
  3. Trelleborg bringing innovations to The Tire Cologne
  4. Trelleborg Wheel Systems Sales Down for 2009
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Continental’s tyres and rubber business profitable in Q2, despite corona

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Marcus Prell, Continental AG

Continental has reported second quarter 2020 consolidated group sales of 6.620 billion euros. This equates to -39.8 per cent drop year-on-year. Pre-tax profits (EBIT) came in at -9.6 per cent of sales (-636 million euros). However, sales in the Rubber Technologies division, which includes tyres, were 2.962 billion euros and the adjusted EBIT margin was 1.2 per cent (around 36 million euros). Thus, Continental’s tyre business has managed to remain profitable despite the obvious pressures of the coronavirus context.

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  1. Michelin temporarily closes some European factories, car tyre demand down 9%
  2. Continental AG measures ‘encouraging’, but R&D budgets and European tyre factories could be cut – analysts
  3. Cooper reports $6 million 2Q loss, international business beat 2019 result
  4. Continental closing Aachen, Germany tyre factory
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Yokohama Q1: Tires division enters loss, ATG remains profitable

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Yokohama Q1 2020 financial result. Source: YokohamaYokohama

The Yokohama Rubber Co. Ltd. posted a 258 million yen loss during the first quarter of 2020 compared with 9.1 billion yen in profit in the same period of the previous year. Meanwhile operating profit fell 90.4 per cent, to 1.2 billion yen. Sales revenue declined 13.6 per cent to 129.1 billion yen.

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  1. Yokohama remains profitable in 1H 2020, despite coronavirus
  2. Yokohama reports record nine-month 2017 net sales results
  3. Continental’s tyres and rubber business profitable in Q2, despite corona
  4. Cooper reports $6 million 2Q loss, international business beat 2019 result
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Toyo Tire net sales down 9.8% in Q1

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Toyo Q1 2020 financials Toyo

In the first quarter of 2020 Toyo Tire Corporation reported net sales of 82,094 million yen a decrease of 8,049 million yen (-9.8 per cent) compared with the first quarter of 2019. Its operating income for the quarter was 6,936 million compared to 10,174 million yen (-31.87%) in the first quarter of 2019.

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  1. Toyo issues post-earthquake statement
  2. Toyo sells half its Bridgestone shares
  3. Conti Completes Bookbuilding of New Shares
  4. Toyo Tires’ tyre business improves in H1 2018, results muted by ‘dampner scandal’
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Pirelli reports 20% 1Q sales decline

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Pirelli & C. S.p.A reported revenues of 1,051.6 million euros in the first quarter of Q1 2020 ended 31 March 2020. This represents a decline of 20 per cent compared to the same period in 2019.

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Related news:

  1. Coronavirus: Still no production at 2 Pirelli plants
  2. Pirelli: Business activities remain ‘guaranteed’, despite national lockdown
  3. Pirelli announces slowdown plan for USA factory
  4. Cooper reports $6 million 2Q loss, international business beat 2019 result
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Tirescanner reports 400% sales growth in first quarter

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Tirescanner, the US-based tyre e-commerce, has announced sales and customer growth of 400 per cent in the quarter covering January, February and March 2020. April and May have continued the same trend with the company predicting another record quarter.

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  1. TireScanner appoints three ex-Blackcircles execs
  2. Blackcircles.com entrepreneur launches online portal for US tyre retailers
  3. Blackcircles founder Welch nominated for TIA board of directors election
  4. Tirescanner.com live in 42 US states, multi-million dollar funding close
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Cooper Tire reports 1Q2020 net loss of US$12 million, Europe and International segment bears the brunt

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Cooper Tire & Rubber Company has reported a first quarter 2020 net loss of $12 million, compared with net income of $7 million in same period last year. Unit volume decreased 15.8 per cent compared to the first quarter of 2019. Net sales decreased 14.1 per cent to $532 million. Operating loss was $6 million, or 1.2 per cent of net sales, compared to operating profit of $26 million, or 4.3 per cent of net sales, in 2019.

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Related news:

  1. Cooper Tire Europe restarting manufacturing in Melksham
  2. Moscow office to aid Cooper’s drive into Russia
  3. Cooper announces plan to end light vehicle tyre production at Melksham
  4. Cooper Melksham cutback plans to proceed after consultation ends
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Earnings decrease, but larger tyre sizes grow in importance for Hankook Tire

Hankook Tire has reported consolidated global sales of KRW 1.4358 trillion (£945.0 million) for the first quarter of 2020, around 12.6 per cent less than in the opening quarter of last year. Operating profit decreased 24.8 per cent year-on-year to KRW 105.9 billion (£69.7 million).

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  1. Hankook Tire: Lower profits in H1 2019
  2. Goodyear defers dividend as volumes drop 18% in Q1 2020
  3. Goodyear preparing to restart European truck tyre production
  4. Predictive fault monitoring making Hankook Tire’s plants run more smoothly
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Goodyear defers dividend as volumes drop 18% in Q1 2020

Preliminary results for the first quarter of The Goodyear Tire Rubber Company’s 2020 financial year were published today, with the company confirming its fiscal performance during the three months to 31 March was “greatly affected by the economic disruption associated with the COVID-19 pandemic.” Tyre unit volumes declined 18 per cent year-on-year to approximately 31 million units and sales dropped 16.7 per cent to around US$3.0 billion.

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  1. Goodyear reaffirms 2015 targets with ‘strong’ 2Q results, despite EMEA troubles
  2. Goodyear: Q3 2018 results
  3. Goodyear reports Q2 net loss of US$696 million
  4. Goodyear suspends European tyre production in response to Covid-19
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Nokian Tyres: Lower sales and operating profit in 2020

Nokian Tyres expects that its net sales in 2020 will be below last year’s and operating profit will be “significantly” beneath 2019 levels. Operating profit will primarily be affected by costs related to the company’s expansion in North America and other investment programmes.

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  1. Russia continues to pound Nokian Tyres’ sales and profits
  2. Nokian Tyres: ‘Good development’ despite currency headwinds in Q1 2018
  3. Bridgestone decreases stake in Nokian Tyres
  4. Nokian Tyres withdraws financial guidance for 2020
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Hella outperforms automotive sector in 2018/19

Automotive supplier Hella has ended the fiscal year 2018/2019 (1 June 2018 to 31 May 2019) with an increase in sales and earnings. Currency and portfolio-adjusted sales have risen by 5.0 per cent compared to the previous year. Reported sales decreased to 7.0 billion euros (previous year: 7.1 billion euros) as a result of divestment from the wholesale business and taking the effects of exchange rates into consideration.

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  1. Hella: EBIT up 21% in FY2016-17
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Delticom reports stable profits for H1 2019

Delticom AG has managed to maintain its gross profit level in the first half of the year despite a slight decrease in sales compared with the prior-year period. Revenues amounted to 285 million euros in the six months to 30 June 2019, 2.1 per cent less year-on-year. Gross profit was 76.9 million euros, nearly unchanged compared to the previous year; stable profits and lower sales meant that the gross margin slightly grew to 21.9 per cent (H1 2018: 21.7%).

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  1. Virtual Margins in the online tyre business
  2. National Tyres to Sell Tyres on eBay
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  4. 20% of tyres in Europe will be sold online by 2020
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Continental discussing ‘need for action’ with employee representatives

Photo: Continental AG

Continental is the latest automotive sector company to report lower year-on-year income in the second quarter of the year. The tyre maker and automotive systems supplier describes its fiscal performance during the period as “an overall solid” result despite a “sharply declining market.” It is nevertheless considering ways of keeping its production costs in check, and will report its progress to this end in the weeks to come.

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  1. Continental net income up almost a quarter in “extremely successful” 2014
  2. Continental: €44 billion in sales, 10.8% EBIT margin in 2017
  3. Continental CEO Degenhart resigns
  4. Continental: Q1 2018 sales up slightly despite exchange rate effects
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Hankook Tire: Lower profits in H1 2019

In reporting its financial results for the second quarter and first half of 2019, Hankook Tire notes that the six months to 30 June were punctuated by uncertainty within the global tyre market. Challenges faced by many tyre makers include declining vehicle sales, anti-dumping duties and uncertainty caused by US-China trade tensions. Hankook specifically battled high fixed costs during a low demand cycle, a relatively high dependency on China for both production and sales, and issues with stabilisation at its 2017-opened plant in the USA.

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  1. Earnings decrease, but larger tyre sizes grow in importance for Hankook Tire
  2. Hankook Tire: Lower OE volumes, costs in US drag operating profit down
  3. Hankook Tire: Operating profit lower in Q3 2019
  4. Hankook Tire outperforms European market in Q2 2017, global sales, profit lower
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Less optimistic: Continental revises 2019 outlook, announces preliminary Q2 results

Continental has readjusted the full-year 2019 outlook for its tyre-making Rubber Group, primarily in response to declining global car and light vehicle production. It has also readjusted the outlook for its Automotive Group business for the same reason.

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Related news:

  1. Stronger euro hits Continental in Q1 2018
  2. Continental: Net income up 2.1% despite higher in raw material costs
  3. Continental Q3 2018 results
  4. Continental discussing ‘need for action’ with employee representatives
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