Pirelli & C. Spa has announced its preliminary, unaudited financial results for the year ending 31 December 2024, alongside the approval of its 2025 budget during a recent Board of Directors meeting. The company not only exceeded its 2024 financial targets, but also set new benchmarks in terms of sustainability and set new goals for 2025.
Jiangsu General predicts that “net profit attributable to shareholders” of its listed companies in 2024 will be 400 million to 500 million yuan (approximately £44 million to £56 million; €53 million to €66 million), an increase of 85.19 per cent to 131.48 per cent year-on-year”.
Halfords Group’s share price shot up more than 15 per cent before falling back to around a 13 per cent increase in response to a profit upgrade. Describing Halfords’s latest forecast as an “unscheduled trading update”, Zeus financial analysts described it as “a circa 14 per cent increase to our full-year 2025 underlying profit-before-tax estimate from £28.5 million to £32.5 million”. Indeed, that figure is towards the lower end of the £32 million – £37 million of the guided range released by Halfords on 28 January 2025.
Autocentres saw strong performance in the more profitable and strategically important Services, Maintenance and Repair (SMR) market, executives have revealed in a trading update that upgrades previous profitability expectations. Indeed, like-for-liked SMR sales growth at Halfords’s consumer garages reportedly grew 10.3 per cent in the third quarter of 2025.
Triangle’s third-quarter report shows its net profit from July to September fell sharply. In the third quarter of 2024, Triangle’s revenue was 2.61 billion yuan (about £290 million; €340 million), a year-on-year decline of 2.49 per cent; the tyre manufacturer’s net profit attributable to shareholders of listed companies was 270 million yuan (about £30 million; €35 million), a decline of 39.59 per cent.
In response to investors’ questions, Linglong reports its Serbian plant was profitable in the third quarter of 2024 “with a high overall production and sales rate and gradually improving profitability”. In the third quarter, the tyre manufacturer held a grand celebration ceremony to indicate that its Serbian plant had achieved mass production.
In a stock exchange submission dated 11 October 2024, Sailun Group Co., Ltd. shares its estimation that net profit attributable to shareholders of the listed company for the first three quarters of 2024 will range between RMB 32.10 billion and RMB 32.80 billion (£3.47 billion and £3.55 billion), a year-on-year increase of 58.52 per cent to 61.98 per cent compared with the same period of last year.
Sentury expects its profit in the first half of 2024 to be between 1 billion and 1.2 billion yuan. Sentury’s net profit increase is fantastic compared to last year’s period. The company’s net profit from January to June 2023 was 606 million yuan. Even if calculated at 1 billion yuan, Sentury’s net profit increased by nearly 65 per cent yearly. If calculated at 1.2 billion yuan, Sentury’s net profit almost doubled.
Linglong expects that in the first half of 2024, after deducting non-recurring gains and losses, the net profit attributable to shareholders of the listed company will be 840 million to 990 million yuan. This figure has significantly increased compared with 499 million yuan in 2023.
In 2023, Chinese tyre manufacturer Triangle’s achieved revenue of 10.42 billion yuan (about £1.13 billion; €1.33 billion) and net profit of about 1.4 billion yuan (about £150 million; €180 million). Revenue of 10.42 billion yuan means that Triangle has surpassed Double Coin in the ranking of Chinese tyre manufacturers in 2023 and comes in behind ZC Rubber, Sailun and Linglong.
After years of strong and often tyre-driven profit growth, Halfords Group plc has warned investors that “further material weakening” in “cycling, retail motoring and consumer tyres” will result in “a significant drop in like-for-like revenue growth”. As a result, that specifically means £13 million less “underlying profit before tax (PBT)”, than previously stated or PBT “in the range of £35-40 million”.
A number of Chinese tyre manufacturers have stated that their net profits significantly increased year-on-year in 2023. Doublestar is one of the few tyre companies that was still losing money. Jiangsu General turned losses into profits. In terms of net profit alone, Sailun’s 3.1 billion yuan suggest the company gradually widened the gap between itself and Linglong. Currently, ZC Rubber has not officially disclosed its operating data for 2023. Therefore, it is not yet possible to judge who is in the leading position in terms of net profit between Sailun and ZC Rubber.
On 15 January, Linglong disclosed its estimated net profit for 2023. The tyre manufacturer reported net profit in 2023 of between 1.35 billion yuan (approximately £148 million; €173 million) and 1.61 billion yuan (about £176 million; €206 million), a year-on-year increase of 362 per cent to 451 per cent.
At the end of January, three Chinese tyre companies released their 2022 performance forecasts, which show that Aeolus and Linglong are in profit, but reveal huge losses at Doublestar.
While announcing its latest financial results, Pirelli has shared details of the steps it has taken to mitigate the impact of the “Russia-Ukraine crisis”. Writing on 23 February, executives explained that Pirelli has conducted an initial analysis of the situation and steps required.
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