The Yokohama Rubber Co., Ltd., announced today its business and financial results for the first quarter (January to March) of fiscal 2018. Profit attributable to owners of parent increased 18.0% over the same period of the previous year, to 9.3 billion yen.
Hanover, Germany – Continental AG’s tire sales have slipped 4.4% year-on-year to €2,635.5 million in the first quarter of 2018, due in part to exchange rate effects and “changes in scope of consolidation”.
In the first three months of 2018, sales volumes for passenger and light truck tires in both original equipment business and tire replacement business were down “slightly” compared with the first quarter of 2017.
Although held back by exchange rate effects, net sales at Nokian Tyres were higher in the first three months of 2018 than a year earlier. Sales were up 3.1 per cent to 336.0 million euros; had the exchange rate effect been neutral, the tyre maker estimates that net sales would have increased 9.3 per cent year-on-year. Nevertheless, Hille Korhonen, president and chief executive officer of Nokian Tyres, referred to the result as “a good start of the year.”
Findlay, Ohio – Cooper Tire & Rubber Co. suffered double-digit drops in operating and net income for the quarter ended 31 March 31, reflecting lower unit volume and costs associated with reduced manufacturing, the company said.
Operating income dropped 54.4% to $26.5 million on 6.5-percent lower sales of $601.5 million, cutting the operating margin nearly five%age points to 4.4%. Net income fell 72.9% to $8.29 million.
The Goodyear Tire & Rubber Co. has reported results for the first quarter of 2018.
“We are pleased with our first quarter results given higher raw material costs and weaker demand than we expected in the quarter,” said Richard Kramer, chairman, CEO and president. “These results were highlighted by our performance in the 17-inch-and-larger segment in consumer replacement, which delivered more than double the industry growth in the U.S. and Europe.”
TRELLEBORG, Sweden—Trelleborg has reported growth in the first quarter of 2018, with both net sales and earnings (EBITDA) up compared to the first three months of 2017.
Cooper Tire & Rubber Company has reported full year 2017 net income of US$95 million, or diluted earnings per share of $1.81, a 61.7 reduction on the $248 million earned the year before. Income was affected by tax reform in the USA; the tyre maker states that excluding these discrete tax items, earnings per share would have amounted to $3.10.
In the past financial year, Sumitomo Rubber Industries (SRI) significantly increased its sales revenue, and the company’s European business played its part in achieving this result. Overall sales rose 16.0 per cent to 756.70 billion yen (£5.1 billion).
TOKYO — Yokohama Rubber Co. Ltd. (YRC) reported higher earnings and record sales for fiscal 2017.
Operating income rose 22.7 percent to $463.4 million on 12.1-percent better sales of $5.96 billion, increasing the operating ratio three-fourths of a point to 7.8 percent.
Net income jumped 87.5 percent to $314.3 million.
YANTAI, China — Linglong Group Co. Ltd.’s revenue jumped by nearly one-third this past year over 2016, according to a recent filing on the Shanghai Stock Exchange.