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Yokohama profits tumble 49%

Company News, International News, News

The Yokohama Rubber Co. Ltd. first half 2016 profits declined 49.3 per cent, to 8.2 billion yen. Yokohama reports that the fall resulted from a 37.9 per cent decline in operating income, to 15.7 billion yen, on a 9.5 per cent decline in net sales, to 268.1 billion yen. The Japanese tyre manufacturer put the negative performance down to “a unit decline in Japanese vehicle production, weakening demand and declining prices in Yokohama’s principal product sectors, and the appreciation of the yen”.

10th August 2016/by Tyrepress Editors

Double-digit sales growth for Mahle

Mahle grew its sales to 11.5 billion euros in 2015, almost 16 per cent year on year. Employment rates are also at a high in multiple locations worldwide. CEO and chairman, Wolf Henning Scheider said the company “has entered a new dimension. In terms of variety and depth of range, our company is now, more than ever, one of the influential suppliers in the automotive industry.”

10th August 2016/by Andrew

Profits up 60% at Univergomma

Company News, International News

Italian tyre wholesaler Univergomma Spa reported increased sales and strongly improved profits in its full-year 2015 results.

The full-year 2015 figures show that the company achieved a turnover of 96.7 million euros up to 31 December 2015. This was based on sales increases of 4.3 per cent in value and +4.7 per cent in volume compared with the previous year. Year-on-year, pre-tax profits (EBITDA) was 8 million euros, up 60 per cent. The net final result of approximately 3 million euros improved by 72.5 per cent.

13th July 2016/by Tyrepress Editors

Brembo celebrates 100 millionth brake disc

International News, Product News, UK News

Brembo’s board of directors, which is chaired by Alberto Bombassei, met at the firm’s Polish factory in Dabrowa Gornicza on Tuesday 10 May to celebrate the production of the firm’s one-hundred-millionth disc. At the same time Brembo’s board approved the group’s quarterly results from 31 March 2016.

Brembo Group’s net consolidated revenues amounted to 563.6 million euros in the first quarter of 2016, up 9.6 per cent compared to the first quarter of 2015. On a like-for-like exchange rate basis, revenues increased by 10.5 per cent.

16th May 2016/by Tyrepress Editors

Apollo Tyres annual net profit up 12 per cent, but European sales slide

Company News, International News

On the occasion of publishing its full-year 2015/2016 financials, Apollo Tyres has reported sales of 117 billion rupees (£1.214 billion; 1.537 billion euros; US$1.757 billion) compared with 127.256 billion rupees in 2014/2015. During the same period (2015/2016) operating profit grew 3 per cent to close at 20.4 billion rupees, up from 19.8 billion rupees. Net profit increased 12 per cent to 10.9 billion from 9.8 billion rupees the year before.

11th May 2016/by Tyrepress Editors

Andrew Page acquires Solid Auto (UK) Ltd

Andrew Page has bought Solid Auto (UK) for an undisclosed sum as part in a bid to become Britain’s leading distributor of Japanese and Korean car parts after as well as a growing player in general.

According to the company, the acquisition will also strengthen Andrew Page’s sourcing capability in China and the Far East. Chairman Jim Sumner said: “Birmingham-based Solid Auto has established a very good reputation as a specialist supplier over the last three decades”.

14th March 2016/by Tyrepress Editors

Bridgestone: Sales, operating income up in 2015, net income declines 5.4%

Bridgestone Corporation has reported net sales of ¥3,790.2 billion (£23.3 billion) in the 2015 financial year, a 3.2 per cent increase on the previous year’s result. Boosted by price mix, foreign exchange gains and favourable prices for raw materials, operating income climbed 8.2 per cent to ¥517.2 billion (£3.2 billion), however net income decreased 5.4 per cent year-on-year to ¥284.2 billion (£1.7 billion).

19th February 2016/by Tyrepress Editors

Michelin reports 2,577 million euros of operating income

Compagnie Generale Des Etablissements Michelin has reported a 2015 operating income of 2,577 million euros, up 407 million euros or 12.2 per cent compared with 2014. During the same period Michelin reported a 3.2 per cent increase in tonnages, outpacing the market in all business segments. Growth was said to have been especially strong in passenger car and light truck tyres (up 6.7 per cent)

16th February 2016/by Tyrepress Editors

Apollo Tyres maintains turnover, increases profits

In the three months to 31 December 2015 – the third quarter of its 2015-16 financial year – Apollo Tyres achieved sales of Rs 29.29 billion (£298.0 million), 3.7 per cent less than a year earlier. Third quarter EBITDA stood at Rs 5.12 billion (£52.1 million), up 2.0 per cent year-on-year, while net profit rose 51.6 per cent to at Rs 2.79 billion (£28.4 million).

10th February 2016/by Tyrepress Editors

Charges deflate Goodyear’s strong operating performance

A one-time pre-tax charge of US$646 million linked to the deconsolidation of its Venezuelan subsidiary’s financial statements dragged Goodyear Tire & Rubber into the red in the fourth quarter of 2015. The tyre maker recorded a GAAP basis net loss of $380 million during the three months to 31 December 2015, a far cry from the $2.1 billion net income achieved a year earlier. Goodyear calculates that excluding certain significant items, most notably the abovementioned deconsolidation, adjusted net income came to $257 million, or $0.93 per share.

10th February 2016/by Tyrepress Editors

Heuver Tyrewholesale turnover up 18% in 2015

Company News, International News

In 2015 Heuver Tyrewholesale increased turnover by 18 per cent. According to the company, this growth represents a major step towards Heuver’s objective of doubling turnover. There firm was also successful online, where Heuver Tyrewholesale realised growth of 14 per cent via its online channel. In terms of brands, Aeolus and Barkley are said to have made a major contribution to the overall result.

8th February 2016/by Tyrepress Editors

Nokian president ‘confident’ that company is returning ‘to profitable growth’

At Nokian Tyres’ Capital Markets Day for investors and analysts in Helsinki, Finland, president and CEO Ari Lehtoranta expressed confidence that the company has started its “journey back to profitable growth.” Focusing on Nokian’s strategy and financial targets, the manufacturer also made no changes to its previous guidance for 2015; the company’s results have shown contraction throughout the year.

18th November 2015/by Andrew

Nokian Tyres sales and profits down in Q3

Nokian Tyres has reported third quarter 2015 sales of 311 million euros, down 5.1 per cent on the previous year. Looking at the first nine months of the year, the firm achieved sales of 1.009 billion euros, down 7.1 per cent. Operating profit, however, rose by 0.3 per cent to 72.4 million euros, resulting in an operating margin of 23.3 per cent in 2015 (the prior year figure was 22 per cent). In the first three quarters operating profit amounted to 201.2 million euros now.

5th November 2015/by Tyrepress Editors

Apollo Europe profits fall sharply in Q2

Company News, International News

Apollo Tyres reports that sales fell in the second quarter – the Apollo Tyres-fiscal year runs from April 2015 to March 2016 – by 10.5 per cent to 29.8 billion rupees (417 million euros). Meanwhile, operating profits of 70 million euros represent a decline of just 2.3 per cent at 5 billion rupees. Net income, however, rose 8.1 per cent to 2.8 billion rupees (39 million euros).

5th November 2015/by Tyrepress Editors

Goodyear reports Q3 2015 operating income of US$599 million on flat sales

Goodyear has reported record quarterly segment operating income of US$599 million, up 15 per cent compared with the same period. Net income of $271 million was up 68 per cent. North America earnings of $323 million were up 54 per cent and are said to be “a record for any quarter”.

29th October 2015/by Tyrepress Editors