Bridgestone operating income falls 20% in first half

Tokyo – Bridgestone Corp. has reported a 20.6% year-on-year decline in first half operating income at Yen158 billion (€1.3 billion), on 1.7% lower sales of Yen1.7 trillion.

Sales within the tire division fell 1% to Yen1.45 trillion over the first six months of the year, down from Yen1.47 trillion registered the year before, Bridgestone announced 9 Aug.

Diversified products unit, which is currently undergoing a major restructuring scheme, reported 5% year-on-year drop in revenue at Yen311 billion.

The non-tire unit manufactures conveyor belts, hydraulic hoses, rubber tracks, seismic shock-absorbers, automotive parts, construction materials and sports equipment.

Operating income for the tire division fell 17% to Yen158 billion, while the diversified product unit reported a Yen100-million loss.

In terms of regions, sales in China and Asia-Pacific were down 5% to Yen 304 billion, while Japan registered 1% growth at Yen553 billion.

The Americas saw sales drop by 1% at Yen855 billion, while Europe, Middle East and Africa remained flat at Yen295 billion.

All regions except EMEA reported double-digit operating income declines, according to the Bridgestone half year results presentation.