Apollo Vredestein Sees 27% Increase in Annual Net Profits - Tire Review Magazine

Apollo Vredestein Sees 27% Increase in Annual Net Profits

The Apollo Vredestein BV division of Apollo Tyres Ltd. reported increased net profits for 2012-13 compared to the previous year, despite a slight slump in net sales.

The tiremaker reported net sales of 425.5 million euros for 2012-13, compared to 426.9 million euros in 2011-12. Operating profit increased some 20% to 61.9 million euros from 51.3 million in 2011-12, while net profit increased by more than 27% from 36.5 million to 46.6 million euros.

The total replacement consumer tire market in Europe for the 2012-13 financial year was down 13%, with reduced sales in nearly all categories. In terms of volume, the sale of passenger car tires declined by 4%, and agricultural tires by 11%. However, the company’s market share went up and a better sales mix resulted in higher average sales prices, according to the tiremaker.

You May Also Like

VIP Tires & Service, Joe’s Tire Shop launch customer appreciation promotions

Promotions will be running through Aug. 21.

VIP-Tire-Waterbury-Customer-Appreciation-Event

Joe’s Tire Shop and VIP Tires & Service hosted a customer appreciation event on July 10 in Waterbury, Connecticut. The event marked the start of promotions running through Aug. 21. The promotions include $50 off any service costing more than $100 and "Oil Changes for Education," where all proceeds from Valvoline oil changes, priced at $10, will be donated to Waterbury Public Schools. Diesel oil changes are not included in the promotion.

ASE to provide a testing and certification program for xEV high-voltage safety

Once the test is passed, the test-taker receives an electronic credential and a certificate.

BKT becomes member of the Global Platform for Sustainable Natural Rubber’

GPSNR brings together natural rubber producers, traders, tire manufacturers and other industry partners to promote sustainable solutions.

OTR-tire-feature-– BKT-Earthmax-Sand-Pic-1400
PRT launches 28 new complete struts in North America

These products expand coverage to nearly 6 million vehicles.

PRT-28-new-struts-1400
Doran releases 360OTR tire monitoring system

The system can be integrated with telematics devices to provide off-vehicle communications of tire pressure and temperature data.

Doran-4-tire-monitoring-system
Other Posts
Akebono names new regional sales manager

Erick Kinnunen joins Akebono with more than 40 years of experience in aftermarket sales, training and management.

Akebono-regional-sales-manager
TEXA runs car diagnostic tool promotion

The promotion is active through Aug. 31.

TEXA-promotion
ATD opens regional distribution center in McDonough, Georgia

The new facility will support 22 distribution centers across Georgia, Florida, Alabama, Louisiana, Mississippi and Tennessee.

ATD-Georgia-Facility-Outside
GRI expands footprint in South America

GRI said its goal is not just to sell specialty tires, but to contribute to the region’s growth through its focus on sustainability.

GRI-team-South-America