Goodyear India’s profit after tax (PAT) plunged to INR 390 million in the second quarter of FY22 due to ‘a significant increase in raw material costs’.
The company had reported a PAT of INR490 million in Q2 FY2021.
However, revenues surged 45 percent to INR7.05 billion in the quarter ended 30 September 2021 on YoY.
In the consumer replacement business, Goodyear witnessed a 40 percent YoY growth. These substantial sales volumes and low incremental overheads have offset the overall slump in profits.
Sandeep Mahajan, Chairman and Managing Director, Goodyear India, said, “We continue to see robust demand across all product categories as India’s economy regains momentum. Against this backdrop, our farm and consumer businesses delivered solid results, supported by expanded distribution and our strong OE position.In addition to the volume benefits, the economic recovery is contributing to the industry’s cost pressures. In this inflationary environment, we’re leveraging the strength of the Goodyear brand and our industry-leading products. Capturing more of this value in the marketplace helped us improve our profitably sequentially despite a significant increase in raw material costs.” (TT)
Yokohama Rubber begins OE tyre supply for BYD’s SEALION 6 DM-i SUV in China
- By TT News
- August 07, 2025
Yokohama Rubber has begun supplying its ADVAN V61 tyres as original equipment for BYD’s new SEALION 6 DM-i SUV, marking the Japanese manufacturer’s first OE partnership with the Chinese carmaker.
The SEALION 6 DM-i, a plug-in hybrid SUV launched by BYD Company Ltd. this July, is being factory-fitted with 235/50R19 103V size ADVAN V61 tyres. The announcement comes as Yokohama seeks to grow its footprint in China’s fast-evolving electric and hybrid vehicle market.
The ADVAN V61 is part of Yokohama’s global flagship ADVAN range and is positioned as a premium SUV tyre. The company said the tyre “offers ADVAN’s hallmark premium-grade driving performance, along with a high-level balance of fuel and energy efficiency, handling stability, and quietness, achieving both comfortable city driving and long-distance touring for heavyweight SUVs.”
The SEALION 6 DM-i combines a 1.5-litre naturally aspirated petrol engine producing up to 74kW with an electric motor generating 160kW. Buyers can choose between 18.3 kWh and 26.6 kWh blade battery options, offering electric driving ranges of 93km and 130km, respectively. All models come equipped with advanced driver assistance systems as standard, and the exterior design draws inspiration from the concept of “ocean aesthetics.”
Sumitomo Rubber’s Tyre Unit Clears Japan Antitrust Probe With Commitment Plan
- By TT News
- August 07, 2025
Sumitomo Rubber Industries Ltd said its subsidiary Dunlop Tyre Japan Ltd has completed a Japan Fair Trade Commission investigation into automotive all-season tyre sales after the regulator approved a commitment plan submitted by the unit.
The probe, which examined the subsidiary’s sales practices, concluded without the commission identifying any violation of Japan’s Antimonopoly Act, Sumitomo Rubber said in a statement.
Under Japan’s commitment procedures, companies can submit plans to address potential competition concerns without admitting wrongdoing, allowing them to resolve investigations while avoiding formal sanctions.
"We deeply apologise for the great trouble and anxiety that we have caused to all concerned, including our clients and business partners,” the tyre maker said.
Bekaert Warns Of Weakening Demand As Tariffs And FX Weigh On Outlook
- By TT News
- August 04, 2025
Belgian steel wire maker Bekaert reported resilient first-half 2025 earnings as strong cash generation and cost control offset softer sales, but warned that tariffs and currency pressures are weighing on demand.
The company posted consolidated sales of €1.9 billion, down 5.2 percent year-on-year, with volumes declining 2.6 percent and price/mix effects stripping out a further 2.2 percent. Underlying EBIT slipped 16.2 percent to €171 million, delivering a margin of 8.8 percent compared with 9.9 percent a year earlier.
Free cash flow surged to €123 million from €43 million in the prior-year period, driven by a €135 million reduction in working capital and €21 million in cost savings as the company continued to streamline operations and rein in capex. Net debt fell to €327 million from €399 million despite a continuing €200 million share buyback programme, €74 million of which has been completed.
“We have continued to focus on what we can control best – cash flow and costs - and have significantly reduced overheads and working capital in H1 2025,” chief executive Yves Kerstens said. “Equally, I am very pleased with the hard work of our teams fighting for volumes in the current challenging markets.”
He added: “We are also taking further steps to make our business units more autonomous and agile. Therefore, I am very confident that we will come out of the current business environment stronger and more cost competitive than ever before.”
Bekaert said volumes were particularly strong in its Steel Wire Solutions and Rubber Reinforcement divisions in the United States and China, while European and Latin American demand lagged. Its Brazilian joint ventures delivered €24 million in net profit share, up from €20 million a year ago.
However, the group cautioned that growing trade tensions – including a rise in US steel tariffs from 25 percent to 50 percent – and the weakening of the US dollar and Chinese yuan against the euro were eroding pricing power and softening orders.
“Following a period of resilience in Q2, the tariff uncertainty and weakening economic outlook has started to have an impact on demand,” Bekaert said.
The company now expects slightly lower full-year 2025 sales on a like-for-like basis, with an underlying EBIT margin of between 8.0 percent and 8.5 percent, down from 8.8 percent in the first half.
Jeff Glajch, the Chief Financial Officer of Orion S.A., a multinational speciality chemicals firm, will retire early in the fourth quarter of 2025, the company stated today.
To find a replacement, an extensive search will be initiated. Glajch will continue to support Orion until the end of 2025 in order to facilitate a seamless transfer.
Corning Painter, CEO, Orion, said, “On behalf of our entire organisation, we thank Jeff for his guidance and valuable contributions to Orion over the past three and a half years. Thanks to Jeff’s leadership, we have exceptional finance and information technology teams in place, and we are well-positioned for future growth.”
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