London – Indonesia’s PT Gajah Tunggal and Finland’s Nokian Tyres were the most profitable publicly traded tire makers last year, an ERJ analysis* of the world’s 75 largest tire makers shows.
With operating ratios of 23.4% and 22.3% respectively. PT Gajah Tunggal and Nokian topped a group of 22 public companies in the global tire rankings. The average ratio among this group came in at 11.8% in 2016, down slightly from 12.4% in the previous year.
Average net income ratio for the group of 22 was 6.8%, a 0.9% gain from 2015. Eight of these companies registered lower net income in 2016 and two – Titan and Toyo Tire & Rubber Co. – were in the red.
The average sales per employee for the dozen publicly traded companies that provided employment data was $192,507, down 9.3% from 2015.
Nexen Tire Corp. had the highest sales per employee at $371,944, ahead of Nokian at $333,860; Toyo Tire at $288,694; Cooper Tire at $277,501; Hankook Tire at $248,695; and Kumho Tire at $241,648.
*Analysis by ERJ sister publication Tire Business, and published in the European Tire Report within the Sept/Oct issue of European Rubber Journal print magazine.