28 Nov 2003
This table summarises recent financial results of various companies involved in the rubber sector.
| Date announced | Company | Type *(see ERJ report) |
Sales (c/f prior yr period) | Earnings (c/f prior yr period). Operating profit unless stated. | Notes |
| 20/11/03 | Goodyear | Q3 03 (to 30 Sept) | $3900m (up 10.9%) | $105.9m loss ($32.7m profit) | N Am. tyre lost $31.8m, rationalis'n costs $46.3m, raw mats. up $96m. |
| 11/11/03 | Pirelli Tyre division | Q3 03 (to 30 Sept) | Euro741m (up 11%) | Euro47m (up 21%) | Good performance and winter tyre business. Vols. up, better sales mix. |
| 6/11/03 |
Degussa Coatings & Advanced Fillers (incl. carbon black, silicas) | Q3 03 (to 30 Sept) | Euro518m (down 1%) | Euro57m (down28%) | Earnings hit by currency moves, some raw material cost rises. |
| 30/10/03 | JSR Corp. | H1 04 (to 30 Sept) | Yen132 532m (up 12.4%) | Yen15 080m (up 55.3%) | Elastomers, emulsions 50% of sales approx |
| 29/10/03 | Columbian Chemicals Co. (Phelps Dodge Corp.'s carbon black business) | Q3 03 (to 30 Sept) | $152.0m (up 10%) | $8.4m (down31%) | Sales up on better prices Europe, Brazil. Earnings hit by lower vols Europe ($2m), turnarounds, utility costs. |
| 29/10/03 | Continental AG tyre business | Q3 03 (to 30 Sept) | Euro1310m (up1.7%) | Euro144m (up 45%) | Strong car tyre business, esp in Europe, winter tyres. |
| 29/10/03 | ContiTech | Q3 03 (to 30 Sept) | Euro438m (up1.8%) | Euro32m (down 3%) | N/a |
| 29/10/03 | PolyOne Elastomers Performance Addtvs | Q3 03 (to 30 Sept) | $84.6m (down 11%) | $0.1m (down 98%) | Decline in automotive demand. |
| 27/10/03 | DSM Elastomers | Q3 03 (to 30 Sept) | N/a | "Clearly negative" | Slow take up from new 80-ktpa EPDM plant. Margins well down. |
| 22/10/03 | Cabot Chemical Business (mostly carbon black) | Fiscal 03 (to 30 Sept) | $1371m (up 12.7%) | $88m (down 13%) | Higher raw mat. costs, weak pricing, low capacity utilis'n. |
| 22/10/03 | Crompton Polymer additives segment | Q3 03 (to 30 Sept) | $311.2m (up 9%) | $4.9m (down 81%) | Costs up, pricing down, incl 13% dip in rubber addtv sales on lower vols and pricing. |
| 22/10/03 | Crompton Polymers segment | Q3 03 (to 30 Sept) | $74.7m (up 11%) | $6.4m (down 40%) | Earnings hit by lower EPDM prices, higher raw mat./energy costs |
| 16/10/03 | Cooper Tire & Rubber Co.-Tire Group | Q3 03 (to 30 Sept) | $526m (up 13%) | $34m (up 26%) | Higher sales, prod'n vols and better product mix offset raw mats., labour, rebate, freight cost rises. |
| 16/10/03 | Cooper Tire & Rubber Co. -Auto parts group | Q3 03 (to 30 Sept) | $392m (up 3%) | $16m (down 45%) | Lower prod'n vols., pricing concessions, and higher scrap rates in sealing ops. |
| 6/10/03 | GDX Automotive | Q3 03 (to 30 Sept) | $174m (down 8%) | $14m loss ($5m profit) | Sales fall, lower pricing and higher launch costs on new platforms. Taking steps to restore profits in Q4. |
| 9/9/03 | Yule Catto plc Polymer Chemicals Division | H1 03 (to 30 June)* | £148.1m (up 11.9%) | £14.5m (down 31.6%) | Margins under pressure from raw materials costs, weak global mkts. Raw mats. prices now softening. |
| 8/8/03 | Nokian Tyres plc | H1 03 (to 30 June)* | $234.3 million (up 9.1%) | $18.6 million (nearly double) | Strong demand in Scandinavia, E. Europe, Russia. Concerned by weak $, raw material costs. |
| 8/8/03 | Bridgestone Corp. | H1 03 (to 30 June)* | $9284m (up 1.7%) Tyres $7381m (up 2%) |
$550m (up 18.3%) Tyres $458m (down 3%) |
Tyre profit down on higher raw mats, pension costs. Sales up on new products, marketing. |
| 6/8/03 | Bayer Polymers AG (Rubber sales circa 20%) |
Q2 03 (to 30 June)* | Euro2500m (down 8%) | EBIT Euro69m (up 460%) | Weak economy in second quarter. Little scope for price increases in rest of year." |
| 4/8/03 | JSR Corp. Elastomers division |
Q1 04 (to 30 June) | Yen20 850m (n/a) | Yen1410m (n/a) | Gen, purpose rubber sales (eg SBR, BR) up on stronger tyre sector demand, both in Japan and overseas. |
| 31/7/03 | Pirelli SpAÂ Tyre Division |
H1 03 (to 30 June)* | Euro1509m (up 1.4%) | Euro127m (up 14.1%) | Sales up 14.4 % excl currency effect (vols 8%, price/mix 6.4%). Higher vols, efficiencies offset unit cost rise, currency. More growth forecast. |
| 31/7/03 | Crompton Polymers | Q2 03 (to 30 June) | $70.3m (down 3%) |  $4.9m (down 61%) | Earnings hit by EPDM overcapacity, raw material costs and lower PU vols. EPDM sales down 2%. |
| 31/7/03 | Crompton Polymer Additives | Q2 03 (to 30 June) | $294.6m (up 2%) | $6.9m (down 72%) | Profit hit by raw material cost rises, lower prices. Rubber addtv sales down 15%. |
| 31/7/03 | Continental AG | H1 03 (to 30 June)* | $6270m (down 1%) | $443m (up 14.9%) | Car tyre earnings up 33% despite US losses. FY earnings forecast at $775m. |
| 30/7/03 | GDX Automotive, pt of GenCorp | Q2 03 (to 30 June)* | $214m (up 2%) | $16m (up 14%) | Efficiencies and currency factors offset lower prices and volumes. |
| 30/7/03 | Federal-Mogul Corp. | Q2 03 (to 30 June)* | $1450m (up 3.6%) | Net loss of $5m (Net income of $16m). Op income $48m (-20%) |
N/a |
| 30/7/03 | Goodyear | H1 03 (to 30 June)* | $7300m (up 7.6%) Tyres circa $6460m |
Net loss of $236.9m (Net loss of $34.3m) | Currency factors add $308m to sales but little effect on earnings. Raw material costs up by $186m. |
| 30/7/03 | Goodyear | Q2 03 (to 30 June)* | $3800m (up 8%) Tyres circa $3340m |
Net loss of $73.6m (Net income of $28.9m) | Raw material costs up $124m. Currency factors add $169m to sales. |
| 30/7/03 | Elementis plc's Specialty Rubber div. (Linatex) Materials handling equipmt. | H1 03 (to 30 June)* | £21.2m (up 8%) | Breakeven (up from loss of £0.9m) | Strong sales growth. Earnings gains also linked to restructuring initiatives |
| 29/7/03 | Groupe Michelin | H1 03 (to 30 June)* | Net sales Euro7348.2m (down 6.1%, but up 4.4% excl currency effects). | Euro578.3m (up1.5%). Net income incl. restructure Euro165.5m (down 34.9%) | Op. margins 7.9% (7.3%) Mkts stable. Raw mats costs up sharply. Outlook stable at best. |
| 28/7/03 | Bekaert SA Steelcord division (supplies reinforcement for tyres, hose, conveyor belts and transmission belts) | H1 03 (to 30 June) | Euro308m (+0.8%) | No data given | Margins helped by "high activity level in steelcord, particularly. in China" |
| 25/7/03 | DSM Elastomers | Q2 03 (to 30 June) | Sales down No data given |
Negative result. No data given | Pressure on volumes and prices and a margin squeeze. To close EPDM plant in Addis, US by mid-2004 |
| 24/7/03 | Cabot Chemical Businesses Segment | Q3/'03 (to 30 June)* | $366m (up15%) | $30m (up11%) | Some gains currency-related. Carbon black vols down. Concern over rising costs and pressure on margins for carbon black business. |
| 24/7/03 | Noveon Inc.'s Specialty Materials business | Q2/03 (to 30 June) * | $110.8m (up 5%) | $28.7m (down 7%) | Higher raw material and utility costs offset rise in TPU volumes. |
| 16/7/03 | Rogers Corp. | Q2/2003 | $49.2m (down14%) | $2.8m (up14%)Â |
Sales of High Perf. Foams div. $17.1m (down 4%) Double-digit growth at Rogers Inoac JV due to sales of PU foam seals, shock absorb pts in mobile phones. |
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