5 Feb 2004
Updated summary of financial reports from groups with major involvement
in the global rubber industry. Compiled by Patrick Raleigh ERJ On-line
news editor:
Financial results scheduled:
February
—11: DSM (annual 2003)
—12: Michelin (2003 Sales)
Nokian (financial
bulletin)
—13: Rhodia (annual 2003)
—19: Pirelli SpA (2003 preliminary)
—20: Bridgestone (annual 2003)
—24: Michelin (annual 2003)
—tba: Goodyear (annual 2003)
—1: British Vita plc (annual 2003 prelim.)
—9: Degussa AG (annual
2003)
—17: BASF AG
(annual 2003)
—18: Bayer AG
(annual 2003)
—25: Pirelli SpA (annual 2003)
—29: Nokian
(annual 2003/“at latest” date)
—30: Continental (annual
2003)
|
|
|
Type *(see ERJ report) |
Sales (c/f prior yr period) | Earnings (c/f prior yr period). Operating profit unless stated. | Notes |
| 4/2/04 |
PolyOne Elastomers &Performance Addtvs. |
FY 03 (to 31 Dec) |
$347.9m (down 4.4%) |
$13.9m (down 44%) |
N/a |
| 2/2/04 |
Crompton Polymer additives segment |
FY 03 (to 31 Dec) |
$1232m (up 9.8%) |
$24.4m (down 69%) Margin 2% |
Rubber additives sales fell 3% in Q4 on lower selling prices. Urethane additive sales down 1% in Q4. |
| 2/2/04 |
Crompton Polymer segment |
FY 03 (to 31 Dec) |
$286m (up 5.2%) |
$28.0m (down 32%) Margin 9.8% |
Urethanes sales up 8% in Q4 on currency, higher unit vols and selling prices. Q4 EPDM sales up 20%, but selling prices
down. |
| 29/1/04 |
Columbian Chemicals* Co. (Phelps Dodge Corp.'s carbon black business) |
FY 03 (to 31 Dec) |
$644.2m (up 17.4%) |
$51.1m (up 8.7) Margin 7.9% |
Sales up in N. America, better margins Europe and S America on currency, stronger pricing in Europe. Utility, deprec'n
costs rise. |
| 28/1/04 |
GenCorp's GDX Automotive unit |
FY 03 (to 31 Dec) |
$786m (down 3%) |
$8m (down 65%) Margin 1% |
Earnings hit by pricing concessions, higher raw mats., labour costs |
| 22/1/04 |
Cabot Corp. Chemical Business (mainly carbon black) |
Q1 04 (to 31 Dec 2003) |
$351m (up 14%) |
$27m (up 12.5%) Margin 7.7% |
Better product mix, lower fixed costs and currency factor gains |
| 16/1/04 |
Sika AG (adhesive, sealant products ) |
FY 03 (to 31 Dec) |
SwissFr2270m (up 6.9%) |
N/a |
Sales advance in eastern and southern Europe, Switzerland and Latin America. |
| 4/12/03 |
Avon Rubber plc |
FY 03 (to 30 Sept)* |
£248.5m (down 0.8%) |
£11.2m (up 0.9%) Margin 4.5% |
Tech. product gains offset losses inEurope automotive sector |
| 20/11/03 |
Goodyear Tire & Rubber Co. |
Q3 03 (to 30 Sept)* Subject to restatement. |
$3900m (up 10.9%) |
$105.9m loss ($32.7m profit) Margin -2.7% |
N Am. tyre lost $31.8m, rationalis'n costs $46.3m, raw mats. up $96m. |
| 13/11/03 |
Yokohama Rubber Co. tyre division |
H1 04 (to 30 Sept) |
Yen127 100m (down 0.8%) |
Yen2000m (down 27.5%) Margin 1.6% |
Japan replacmt. mkt. down sharply. OE sales flat. Exports advance. |
| 12/11/03 |
Toyo tyre division |
H1 04 (to 30 Sept) |
Yen74 946m (up 0.6%) |
Yen6258m (up 275%) Margin 8.4% |
N/a |
| 11/11/03 |
Pirelli Tyre division |
Q3 03 (to 30 Sept) |
Euro741m (up 11%) |
Euro47m (up 21%) Margin 6.3% |
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%) Margin 11% |
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%) Margin 11.4% |
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%) Margin 5.5% |
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%) Margin 11% |
Strong car tyre business, esp in Europe, winter tyres. |
| 29/10/03 |
ContiTech |
Q3 03 (to 30 Sept) |
Euro438m (up1.8%) |
Euro32m (down 3%) Margin 7.3% |
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 |
Groupe Michelin |
Q3 03 |
Euro3801m (down 1.7%) |
N/A |
Currency moves (-6.2%) offset better vols (2.6%), price/mix (2.1%). Car tyre sales up in Europe, but not US. |
| 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 (up460%) | 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 (egSBR, BR) up on stronger tyre sector demand, both in Japan and overseas. |
| 31/7/03 | Pirelli SpA Tyre Division |
H1 03 (to 30 June)* | Euro1509m (up 1.4%) | Euro127m (up 14.1%) | Sales up 14.4 % excl currencyeffect (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 lossof $34.3m) | Currency factors add $308m tosales 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 |
Subscribe for unlimited access. A subscription to European Rubber Journal includes:
Already a subscriber? Log in here
