Annual Performance Highlights
• Net sales 2012-2013 stable at € 425.5 million compared to 2011-2012 (€ 426.9 million).
• Operating profit 2012-2013 increased by over 20% to € 61.9 million (2011-2012: € 51.3 million).
• Net profit 2012-2013 increased by over 27% from € 36.5 million to € 46.6 million.
Market overview
The total replacement consumer tyre market in Europe for the 2012-2013 financial year was down 13%, with reduced sales in nearly all categories. With tyre inventories at a high level, clients were not willing to order large numbers of summer tyres. A late start to the cold weather also translated into a poor winter season.
Apollo Vredestein B.V.
Despite the significant contraction in the market, Apollo Vredestein B.V. managed to achieve stable net sales of
€ 425.5 million in 2012-2013 compared to 2011-2012. In terms of volume, the sale of passenger car tyres declined by 4%, and agricultural tyres by 11%. However, the company's market share went up and a better sales mix resulted in higher average sales prices.
Apollo Vredestein BV is part of Apollo Tyres Ltd., a young, ambitious and dynamic global company with a unique identity. The opening of the new Global R&D centre for passenger car tyres at the Business & Science Park in Enschede (the Netherlands) showcases the company's intention to increase technological efforts and expand Research & Development. The biggest industry recognition this year came at the Tyre Technology Seminar in Cologne (Germany) where Apollo Tyres Ltd. was named Tyre Manufacturer of the Year.
