Yokohama earnings up 40% on record sales to Q3

Over the first nine months, operating profit reached Yen26.4 billion (€197.8 million) million on net sales 13.8% higher year-on-tear at Yen466.8 billion, said a 14 Nov results announcement.

Yokohama linked the gains to “robust results” at its Tires segment, which delivered a 14.8% rise in operating income to Yen19.0 billion on sales up 7.3% to Yen333.1 billion. The higher earnings, it noted, were achieved despite increased raw materials. prices

OE tire sales increased “solidly” overseas, with the strongest gains in China and Russia. Yokohama also posted gains in unit volume, in sales value, and in operating income in the replacement market, helped by strong growth in Russia and in south east Asia.

In Japan, sales benefited from the launch of a stud-less snow tire and from strong sales for other 'high-value-added' products.

Elsewhere, Yokohama posted sales gains in high-pressure hoses, industrial materials, and sealants & adhesives. However, sales declined in aircraft fixtures and components on weakness in the commercial sector.

In the ATG segment, sales of tires for agricultural machinery, industrial machinery, and other off-highway applications increased in the OE market and in the replacement market.

With the latest results, Yokohama is sticking by full-year sales and earnings projections announced in August: operating income of Yen50.0 billion and net sales of Yen660.0 billion.