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EfTD: Turnover grows 46% to €1.1 billion

Tyre wholesaler European FinTyre Distribution (EfTD), a Bain Capital company, reports a turnover of 1.1 billion euros for the 2018 financial year, a 46 per cent year-on-year increase. EBITDA reportedly rose 83 per cent year-on-year. This positive net cash flow helped finance its acquisition of RS Exclusiv, which was completed in May 2019 and increased the group’s turnover to approximately 1.2 billion euros. According to chief executive officer Mauro Pessi, the company anticipates a turnover of 1.3 billion euros this year.

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Related news:

  1. EC clears Bain Capital’s acquisition of Reiff’s tyre distribution business
  2. EfTD growing with the ‘right opportunities and matches’
  3. FinTyre completes Rs Exclusivreifengrosshandel and Tyrexpert Reifen + Autoservice acquisition
  4. Anger amongst Fintyre Group’s workforce in Germany: “They’re dealing with people, not numbers”
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CITExpo 2017 opens in Shanghai

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The 15th edition of the China International Tire Expo has opened at the Shanghai World Expo Exhibition & Convention Center. Exhibitors at the show comprise a mix of growing tyre manufacturers from the Chinese market, international trading companies, wheel suppliers and others, while. In addition to Chinese industry players, Europe is represented by UK distributor Oak Tyres’ Davanti tyre brand, FM Tyres from the Netherlands, and Italian distributor Franco Gomme, while Singapore’s Stamford Tyres and Taiwan’s Nankang add to the international exhibitor base. The internationalism of the show is also reflected in the visitors arriving today from five continents.

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Related news:

  1. CITExpo 2017 Review
  2. Citexpo 2014 reports record figures
  3. CITExpo opens at Everbright for final time, previews move to modern facility
  4. CITExpo bids farewell to Everbright in 13th edition, previews move to modern facility
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Italy’s Fintyre acquires tyre wholesaler Franco Gomme

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The recent acquisition of Italian tyre distributor Franco Gomme by the country’s leading aftermarket tyre distributor, the Fintyre Group, is said to have pushed Fintyre into the ‘top five’ of Europe’s independent tyre distributors – the two firms’ combined turnover is expected to exceed €400 million in 2016. Through its acquisition of Franco Gomme, Fintyre aims to enhance its position the Italian market through increased coverage, more widespread distribution and new sales channels.

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Related news:

  1. EC clears Bain Capital’s acquisition of Reiff’s tyre distribution business
  2. ‘Only efficiency will save tyre distributors’ – Top 5 European tyre wholesaler Fintyre
  3. Bain Capital acquires Fintyre
  4. Fintyre to open London head office
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