Apollo Tyres has announced that as a responsible and progressive tyre manufacturer, it has made further commitments in the Environment, Social and Governance (ESG) space. The company has undertaken the following commitments towards sustainability –

• Commitment to be carbon neutral by 2050. This would entail improving Scope 1 and Scope 2 emission intensity by 25 percent by 2026, against baseline year of 2020, and an increase in renewable power in total power share to 25 percent by 2026.
• Improving water withdrawal intensity by 25 percent by 2026 against baseline year of 2019.
• Commitment to improve its Diversity and Inclusion (D&I) to 12 percent globally by 2026.
• Increasing usage of sustainable raw material to 40 percent by 2030.

Speaking about the defined targets, Neeraj Kanwar, Vice Chairman and Managing Director, Apollo Tyres Ltd, said, “With an aspiration to be carbon neutral by 2050, we are working towards creating climate-resilient operations. Dedicated teams and investments are being made in energy-saving initiatives and towards renewable energy to be prepared for the future and to contribute towards a decarbonised tomorrow.”

Apollo Tyres claims that it has systems in place to monitor and analyse its GHG emissions, which are independently verified by a third party and reported annually in its sustainability disclosures. The company has undergone climate risk assessment as per the taskforce on Climate Related Financial Disclosure (TCFD) framework. Based on the identified areas, mitigation strategies have been formulated and an action plan drawn to put them into action, states Apollo Tyres.

With the Andhra Pradesh facility in India already running completely on biomass, the company has accelerated its journey towards renewable energy usage across operations and to move away from fossil fuels. According to Apollo Tyres, the Chennai plant has guaranteed a supply of 40 million units through its investment in solar power. Similarly, the Vadodara facility has captive capacities for solar and wind energy. Given the energy crisis in Europe, the operations are continuously improving upon its energy efficiency, claims the tyre manufacturing company. At an overall organisation level, nearly 10 percent of power requirement in FY22 was met by renewable sources. The company states that it is committed to increase this to 25 percent by 2026.

Apollo Tyres, in line with international tyre manufacturers, has taken an ambitious goal of achieving 40 percent sustainable material in its tyre compounds by 2030. As per the company, the split up of sustainable materials will be 30 percent biomaterial and 10 percent recycled material. The company is investing in R&D and manufacturing to achieve the above target by conducting a life-cycle assessment (LCA) for its products.

According to Apollo Tyres, the tyre manufacturing company gives paramount importance to the judicious use of water. Several steps have been taken within the organisation to ensure the reuse and recycling of water, in addition to increasing the awareness regarding the same in the communities around. As per Apollo Tyres, the tyre company monitors the specific water withdrawn per tonne of product and has a roadmap to reduce it over a period. This water footprint is independently assured by a third party and reported in sustainability disclosures.

The company claims that it understands the importance of harnessing the power of D&I amongst its workforce. It further states that it has been bringing in changes in policies and practices, undertaking targeted recruiting and building global cross-cultural teams.

Indian tyre manufacturer Apollo Tyres Ltd reported a 3% increase in annual revenue to INR 261.23 billion for fiscal year 2024-25, while its net profit fell 35 percent from the previous year.

The company, which markets its products under the Apollo and Vredestein brands, saw its operating profit decline to INR 35.71 billion for the full year, compared with INR 44.47 billion in the previous fiscal year.

For the fourth quarter ended March 31, Apollo Tyres posted a revenue of INR 64.24 billion, up 3% year-on-year, while quarterly net profit dropped to INR 1.85 billion from INR 3.54 billion in the same period last year.

"We acknowledge that our performance over the past few quarters has not met industry benchmarks and our own expectations. After a thorough internal review, we have identified the key challenges that contributed to this underperformance," said Onkar Kanwar, Chairman of Apollo Tyres.

"With targeted strategies now in place to address these issues, we are confident in our ability to deliver stronger results in the coming quarters," he added.

Apollo Tyres, which has manufacturing facilities in India, the Netherlands and Hungary, distributes its products in over 100 countries.

Elmer Wiemer, Chief Financial Officer and designated Chief Executive Officer of Heuver Group, has passed away. The group shared the sad news in a statement announcing that he passed away on 4 May at the age of 48 after a brief illness.

Wiemer has had a lasting impact on the Heuver Group since he took office in 2020. As CFO, he played a pivotal role in bolstering the course, advancing the organisation's professionalism and attaining long-term success. His strategic vision and astute financial sense were always bolstered by a strong sense of accountability and a kind, humane leadership style.

“He was a true inspiration. Elmer’s legacy is tangible in the way we work together, in the culture he helped shape and in the ambitions he helped realise. We lose in him not only a leader, but also a warm personality, a dedicated colleague and a dear friend,” said Heuver Group management.

Goodyear has launched the award-winning Goodyear Eagle F1 Asymmetric 6 tyre in the United States and Canada. The premium summer tyre has emerged the winner in the 2025 AutoBild test for ultra-high-performance (UHP) tyres and is aimed at a wide range of sporty and luxury cars, crossovers and SUVS.

With its unique tread composition that optimises rubber-to-road contact, the Goodyear Eagle F1 Asymmetric 6 offers responsiveness and stability for dynamic driving. While the flexible tyre compound provides better grip in hot weather, the asymmetric tread pattern guarantees rapid responsiveness and traction in turns. To guarantee a peaceful, pleasant ride, the tyre pattern and lightweight design also reduce road noise. Goodyear's SoundComfort and SealTech innovations are two notable features found in certain Eagle F1 Asymmetric 6 fitments. For a more peaceful and elegant driving experience, SoundComfort reduces road noise, while SealTech successfully seals punctures up to five mm. Because of its high load rating and low rolling resistance, it is perfect for contemporary SUVs and electric cars, which require more from their tyres in order to maximise economy and range.

Nearly 90 percent of SKUs for the Goodyear Eagle F1 Asymmetric 6 are 18 inches or greater, with over 100 sizes available in the 17–23-inch range. Numerous well-known automobiles, such as the BMW M3/M4/X3/X4/X5/X6/X7, Audi A4/S4/A5/S5/A3/S3, Mercedes C-Class, Porsche Macan/Boxster/Cayman and Cayenne, and Tesla Model S, may be fitted with the Goodyear Eagle F1 Asymmetric 6. Customers may feel more secure about their purchase with the Goodyear Eagle F1 Asymmetric 6's 30,000-mile (50,000-kilometre) tread life limited guarantee. It is available at authorised Goodyear retailers across the United States and Canada.

Ryan Waldron, President, Goodyear Americas, said, "The Goodyear Eagle F1 Asymmetric 6 represents the next evolution of ultra-high-performance summer tyre, delivering precision, grip and comfort for drivers. As an award-winning tyre designed for a wide range of sporty and luxury vehicles, including the larger rim sizes on many of these vehicles, it provides a driving experience tailored to today's most premium enthusiasts. We're proud to introduce this globally recognised product to North America, bringing advanced technology and innovation that keeps drivers confident on the road."

Toyo Tires reported record first-quarter sales of 135.5 billion yen ($880 million), marking a 6.2 percent increase year over year and reaching its highest level since adopting its current accounting period in 2013. Despite the top-line growth, operating income fell 13.7 percent to 22.4 billion yen due to rising raw material costs and foreign exchange headwinds.

“Strong sales of large-diameter tyres in North America drove revenue growth but couldn’t fully offset higher production costs,” said the company in its earnings statement. The Japanese tyre maker saw a 7.7 percent sales increase in North America, which remains its largest market.

Profit Squeeze

Ordinary income plunged 42.7 percent to 18.3 billion yen, while profit attributable to owners dropped 41.4 percent to 13.5 billion yen, primarily due to foreign exchange losses from the yen’s appreciation. The Japanese currency strengthened to 154 yen per dollar during the quarter, compared to 146 yen in the year-ago period.

The company maintained its full-year forecast, projecting annual sales of 585 billion yen, up 3.5 percent from FY2024. Operating income is expected to reach 85 billion yen, down 9.6 percent , with operating margin declining to 14.5 percent from 16.6 percent last year. The annual dividend forecast is 125 yen per share, up from 120 yen in the previous fiscal year.

“Assuming tariff impact can be absorbed with appropriate measures, earnings forecasts for FY2025 remain unchanged,” the company stated, maintaining its dividend payout ratio target of 30 percent  or higher.

Production and Expansion

The tyre maker plans to increase production volume by 6 percent in FY2025 compared to the previous year, with significant growth in both Japanese and European operations. First-quarter global production volume was 59,100 tons, representing 98 percent of the previous year's level.

Capital investment for FY2025 is projected at 35.6 billion yen, up from 25.6 billion yen in FY2024, signalling continued expansion despite market headwinds. The company has invested 194 billion yen in capital expenditures over the past five years.

Market Conditions and Raw Materials

Raw material costs continue to pressure margins, with the company projecting a negative impact of 10.5 billion yen for FY2025. Natural rubber price increases are expected to cost 7.4 billion yen, while petroleum products will add 2.0 billion yen in costs, and other materials will contribute 1.1 billion yen to the cost pressure.

First-quarter sales volume showed strong recovery in the Japanese replacement tyre market, reaching 97 percent of the previous year’s level. In comparison, North America demonstrated robust growth at 105 percent year-over-year.

Product Innovation and Corporate Initiatives

The company recently launched premium tyres for high-roof kei cars in Japan with enhanced wet grip performance. These tyres feature eco-friendly materials that improve wet braking performance by 12 percent while reducing rolling resistance by 9 percent.

In March, the company introduced new SUV tyres designed specifically for quiet city driving that meet the “Low Car Exterior Sound Tyres" voluntary standard established by the Japan Automobile Tyre Manufacturers Association.