Goodyear: Sales of $3.7 billion in the fourth quarter of 2016

Richard J. Kramer, chairman and chief executive officer of Goodyear Tire & Rubber Company, said: “In 2016, Goodyear’s net profit was stable, while at the same time the record of main business revenue was refreshed. This was due to The strong tire business in the Americas and Asia Pacific markets shows Goodyear’s continued revenue growth and strategic measures in place.”

Goodyear's Fourth Quarter 2016 Sales of $3.7 Billion

"Rising raw material prices will be an important challenge for the company in 2017. However, Goodyear's industry-leading innovation capability, award-winning product lineup and inspiring brand power give the company value and competitive advantage." Specificity has proven that the company has the ability to eliminate the impact of rising raw material prices,” Mr. Kramer added.

“We are confident that we will achieve profitable growth in key market segments and achieve our 2020 financial goals.”

Goodyear’s fourth quarter 2016 sales were US$3.7 billion, a slight decrease from US$4.1 billion in the same period of last year, which was mainly attributable to the company’s Venezuela business included impairment charges.

In the fourth quarter, sales of tires fell by 2% year-on-year, and the number was 41.1 million; shipments of replacement tires decreased by 1%. Affected by other factors such as weak sales in the US commercial truck market, sales of original tires fell by 7%.

Fourth-quarter operating income reached US$479 million, slightly lower than the US$480 million of the same period last year. Although cost savings contributed to 2016 operating revenue, it is far from enough to offset the “impact of raw material costs on product pricing and product mix”, “decrease in sales”, and “advantages of Venezuela’s business included impairment charges”. Impact. In the fourth quarter of 2015, if the impact of Venezuela's business was not considered, the company’s main business income was US$ 458 million.

2016 Annual Results

Goodyear’s 2016 sales were US$15.2 billion, which was a decrease of 8 percentage points from the same period of last year, which was mainly attributable to foreign exchange fluctuations and impairment charges of Venezuela’s business.

Goodyear tire sales were almost flat compared to 2015, reaching 166.1 million; replacement tire shipments rose by 2%; at the same time, sales of original tires fell by 4%. Excluding the impairment charge of Venezuela's business, tire sales increased by 1%.

Goodyear’s 2016 net profit was US$1.3 billion, which was a significant increase from the US$307 million in the same period of last year. The increase was attributed to the company’s liberation from the 2015 performance reduction due to specific reasons, including the impact of Venezuela’s business and abroad. The impact of the disclosure of a tax assessment allowance. The adjusted net profit for the year was US$1.1 billion, an increase from US$906 million in the same period of last year.

In 2016, the company’s annual operating income reached 2 billion U.S. dollars, a decrease of 2 percentage points from the same period of last year. This decline was mainly caused by the change of business in Venezuela. In 2015, if the impact of Venezuela’s business was not considered, the company’s main business income was US$1.9 billion.

Asia-Pacific

In the Asia-Pacific market, Goodyear’s fourth-quarter sales in 2016 fell by 2% year-on-year to US$548 million, which was mainly due to the fact that 1 percentage point of sales growth was far from sufficient to offset the adverse effects of foreign exchange fluctuations. The shipment volume of replacement tires rose by 3%; the sales volume of original tires fell by 2%.

Although raw material costs adversely affected product pricing and product mix effects, the reduction in processing costs and sales volume boosted operating revenue in the fourth quarter of 2016 to increase by 7% year-on-year to US$103 million, setting a new record.

4200mm Nonwoven Lines

Advantages of spunbond nonwoven line:

1. It is easier and faster to change the color of nonwoven fabric and there is not too much waste nonwoven fabric during the period of changing color.

2. The land and space are less, the labor is less, and operation is easier.

The spunbond nonwoven production lines use polypropylene (PP) as raw material to make pp nonwoven fabric, adopting the technology of air drawing into webbing by negative pressure. The product of nonwoven series is usually applied for packaging, waterproof material, packaging base lining and so on.

The width of nonwoven fabric of Non-woven Fabric Line can be 1600mm, 2400mm, 3200mm, and 4200mm.

4200 Spunbond Nonwoven Line,Single Beam Spunbond Nonwoven Line,4200 Nonwoven Fabric Product Line,Nonwoven Fabric Production Line

Yangzhou Yuyang Nonwoven Machinery Co., Ltd , https://www.yy-machinery.com