MICHELIN RELEASED ITS 2023 FINANCIAL RESULTS. Group sales totaled 28.3 billion euros (approximately US$30.4 billion), up 2.0 percent at constant exchange rates. In 2023, the Group's business line operating profit reached a record high of 3.6 billion euros. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 4 percent to 5.5 billion euros.
Bridgestone announces 2023 results. Full-year revenue was 4,313.8 billion yen (about 27.7 billion U.S. dollars), compared to 4,110.1 billion yen in the previous year. Operating profit for the full year was 481.8 billion yen, compared to 441.3 billion yen in the previous year. Net profit attributable to owners of the parent company for the full year was 326.9 billion yen, compared to 305.4 billion yen in the previous year.
Goodyear Tire & Rubber reports fourth-quarter and full-year 2023 results. Net sales in the fourth quarter were $5,116 million, compared to $5,374 million in the year-ago quarter. Net loss for the quarter was $291 million, compared to a net loss of $104 million in the year-ago quarter. Net sales in 2023 will be $20.066 billion, compared to $20.805 billion in 2022. Net loss for the full year was US$689 million, compared to a net profit of US$202 million in the previous year.
German auto parts supplier Continental announced its 2023 results. Sales for the full year amounted to 41.42 billion euros, compared to 39.41 billion euros in the previous year. Adjusted EBIT profit for the full year was 2,517 million euros, compared to 1,913 million euros in the previous year. Net profit attributable to shareholders of the parent company for the full year amounted to 1.156 billion euros, compared to 66.6 million euros in the previous year. Among them, the tire subgroup sold 13.958 billion euros (about 15 billion US dollars), compared with 14 billion euros in the previous year. Adjusted EBIT profit for the full year was 1,887 million euros, compared to 1,831 million euros in the previous year.
Sumitomo Rubber Industries announced its 2023 results. Full-year revenue was 1,177.4 billion yen (about 7.57 billion US dollars), compared to 1,098.7 billion yen in the previous year. Operating profit for the full year was 64.5 billion yen, compared to 15.0 billion yen in the previous year. Net income attributable to owners of the parent company for the full year was 37.0 billion yen, compared to 9.42 billion yen in the previous year.
Pirelli & C. S.p.A announces its 2023 results. Net sales in 2023 were 6.65 billion euros (approximately $7.13 billion), compared to 6.616 billion euros in 2022. Full-year adjusted EBITDA profit was 1,446 million euros, compared to 1,408 million euros in the previous year. Net profit attributable to owners of the parent company for the full year amounted to 479 million euros, compared to 418 million euros in the previous year.
Hankook Tire Co. Announced fourth quarter and full year 2023 results. Sales in the fourth quarter were 2,232 billion won ($1.62 billion), compared to 2,263.8 billion won in the same period last year. Quarterly operating profit was 492.4 billion won, compared to 212 billion won in the same period last year. Annual sales were 8,939.6 billion won (about 6.495 billion U.S. dollars), compared to 8,394.2 billion won in the previous year. The full-year operating profit was 1,327.9 billion won, compared to 705.8 billion won in the previous year.
Yokohama Rubber Co., Ltd. (China) Announcement of 2023 results. Full-year revenue was 985.3 billion yen (about 6.33 billion US dollars), compared with 860.5 billion yen in the previous year. Operating profit for the full year was 100.4 billion yen, compared to 68.9 billion yen in the previous year. Net income attributable to owners of the parent company for the full year was 67.2 billion yen, compared to 45.9 billion yen in the previous year.
Sailun Tire released its 2023 annual performance report. In 2023, the operating income will be 25.978 billion yuan (about 3.585 billion US dollars), an increase of 18.61% year-on-year, and the net profit attributable to shareholders of listed companies will be 3.091 billion yuan, an increase of 132.07% year-on-year.
Toyo Tire Corporation announced its 2023 results. Net sales for the full year were 552.8 billion yen (about 3.55 billion U.S. dollars), compared to 497.2 billion yen in the previous year. Operating profit for the full year was 76.9 billion yen, compared to 44.0 billion yen in the previous year. Net income attributable to owners of the parent company for the full year was 72.3 billion yen, compared to 48.0 billion yen in the previous year.
Maxxis International announced its consolidated results for 2023. Full-year operating revenue was NT$96.2 billion (approximately US$2.954 billion), compared to NT$98.6 billion in the previous year. The annual operating profit was 10.36 billion yuan, compared with 7.374 billion yuan in the previous year. The net profit attributable to owners of the parent company for the whole year was 7.182 billion yuan, compared with 4.961 billion yuan in the previous year.
Linglong Tire disclosed its 2023 annual report. In 2023, the company achieved a total operating income of 20.165 billion yuan (about 2.78 billion US dollars), a year-on-year increase of 18.58%, a net profit attributable to the parent company of 1.391 billion yuan, a year-on-year increase of 376.88%, and a non-net profit of 1.295 billion yuan, a year-on-year increase of 622.52%.
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