Bekaert Warns Of Weakening Demand As Tariffs And FX Weigh On Outlook
- By TT News
- August 04, 2025
Belgian steel wire maker Bekaert reported resilient first-half 2025 earnings as strong cash generation and cost control offset softer sales, but warned that tariffs and currency pressures are weighing on demand.
The company posted consolidated sales of €1.9 billion, down 5.2 percent year-on-year, with volumes declining 2.6 percent and price/mix effects stripping out a further 2.2 percent. Underlying EBIT slipped 16.2 percent to €171 million, delivering a margin of 8.8 percent compared with 9.9 percent a year earlier.
Free cash flow surged to €123 million from €43 million in the prior-year period, driven by a €135 million reduction in working capital and €21 million in cost savings as the company continued to streamline operations and rein in capex. Net debt fell to €327 million from €399 million despite a continuing €200 million share buyback programme, €74 million of which has been completed.
“We have continued to focus on what we can control best – cash flow and costs - and have significantly reduced overheads and working capital in H1 2025,” chief executive Yves Kerstens said. “Equally, I am very pleased with the hard work of our teams fighting for volumes in the current challenging markets.”
He added: “We are also taking further steps to make our business units more autonomous and agile. Therefore, I am very confident that we will come out of the current business environment stronger and more cost competitive than ever before.”
Bekaert said volumes were particularly strong in its Steel Wire Solutions and Rubber Reinforcement divisions in the United States and China, while European and Latin American demand lagged. Its Brazilian joint ventures delivered €24 million in net profit share, up from €20 million a year ago.
However, the group cautioned that growing trade tensions – including a rise in US steel tariffs from 25 percent to 50 percent – and the weakening of the US dollar and Chinese yuan against the euro were eroding pricing power and softening orders.
“Following a period of resilience in Q2, the tariff uncertainty and weakening economic outlook has started to have an impact on demand,” Bekaert said.
The company now expects slightly lower full-year 2025 sales on a like-for-like basis, with an underlying EBIT margin of between 8.0 percent and 8.5 percent, down from 8.8 percent in the first half.
Epsilon Carbon Appoints Munish Kumar Rathi As President And Business Head For Carbon Black
- By TT News
- May 29, 2026
Epsilon Carbon Pvt. Ltd. has announced the appointment of Munish Kumar Rathi as its new President and Business Head for Carbon Black.
With more than 25 years of extensive global leadership experience, Rathi brings a strong background in profit and loss management, multi-site manufacturing leadership, strategic planning and business transformation. His career is marked by a demonstrated ability to drive operational excellence and foster sustainable growth across various international markets.
The company is anticipating that his leadership will play a key role as Epsilon Carbon continues to expand its global footprint and accelerate innovation within the carbon black business segment. The organisation has formally welcomed Rathi to the team, expressing confidence in his capacity to guide future strategic initiatives. This move underscores Epsilon Carbon’s commitment to strengthening its leadership team in pursuit of long-term global competitiveness.
TVS Srichakra Approves INR 2.2 billion Capacity Expansion For Madurai plants
- By Sharad Matade
- May 28, 2026
TVS Srichakra has approved capital investment of up to INR 2.2 billion to expand production capacity at its manufacturing facilities in Vellaripatti, Madurai.
The expansion will cover the company’s two-wheeler tyre and off-highway tyre plants, with investment of up to INR 1.1 billion allocated to each facility.
TVS Srichakra said the two-wheeler tyre plant currently has capacity of about 21 million to 23.5 million tyres a year and operates at utilisation levels of around 80 to 85 percent. The company plans to add about 5 percent capacity, with completion targeted in the first half of FY2028-29.
The off-highway tyre plant has existing capacity of about 75 to 85 metric tonnes a year and operates at utilisation levels of 75 to 80 percent. TVS Srichakra plans to increase capacity at the plant by about 25 percent, with the addition scheduled for the first half of FY2027-28.
The company said the investment would be financed through a combination of internal accruals and debt.
TVS Srichakra said the expansion is intended to meet growing demand for its two- and three-wheeler tyres and off-highway tyre products.
JK Tyre Reports Record FY26 Revenue of INR 163.84 Bln, Q4 PAT Jumps 94%
- By TT News
- May 27, 2026
JK Tyre & Industries reported record consolidated revenue of INR 163.84 billion for FY26, registering an 11 percent year-on-year increase, supported by strong domestic demand and volume growth across key tyre segments.
The company’s consolidated EBITDA rose 25 percent to INR 20.89 billion, with EBITDA margin improving to 12.8 percent.
Profit before tax increased 46 percent to INR 10.43 billion, while profit after tax climbed 52 percent to INR 8.60 billion during FY26.
For the fourth quarter, consolidated revenue rose 12 percent year-on-year to INR 42.33 billion.
Quarterly EBITDA surged 42 percent to INR 5.46 billion, with margin at 12.9 percent, while Q4 PAT nearly doubled, rising 94 percent to INR 1.99 billion.
Chairman and Managing Director Dr Raghupati Singhania described FY26 as a year of robust performance, highlighting record volumes in both truck and bus radial and passenger car radial categories.
Domestic sales volumes during Q4 grew 21 percent overall. Truck and bus radial replacement volumes increased 53 per cent, while OEM demand in the segment rose 23 percent. Passenger car radial replacement volumes were up 26 percent and OEM demand increased 10 percent.
The company said growth momentum was expected to continue into FY27, supported by new vehicle launches, infrastructure development and sustained replacement demand.
JK Tyre also highlighted strong traction in electric mobility. More than 70 per cent of electric buses operating in India currently run on its tyres, while the company supplies EV tyres to nearly eight two-wheeler OEMs and has secured orders for electric passenger vehicle models including Renault Duster EV, Hyundai Creta EV and Tata Motors’ Nexon and Punch EV variants.
Its Mexico business, operated through JK Tornel, contributed nearly 20 per cent of consolidated revenue and is expected to maintain growth across Mexican, Latin American and US markets.
- David Cichocki
- Anne Forristall Luke
- The Goodyear Tire & Rubber Company
- U.S. Tire Manufacturers Association
Goodyear Executive David Cichocki Elected to USTMA Board
- By TT News
- May 21, 2026
The U.S. Tire Manufacturers Association (USTMA) has elected David Cichocki, Managing Director, Americas, and chief sales officer, Americas Consumer, at The Goodyear Tire & Rubber Company, to its board of directors.
“I’m pleased to welcome David to our Board. His extensive experience and expertise across the tire and consumer goods industries will be invaluable as we navigate today’s complex industry,” said Anne Forristall Luke, USTMA president and chief executive. “His proven leadership will strengthen our ability to seize emerging opportunities.”
Cichocki joined Goodyear in early 2026 and is responsible for overseeing the Americas region and leading the company’s Americas Consumer sales business.
He brings more than 30 years of leadership experience across industrial and consumer goods companies to the USTMA board.
Before joining Goodyear, Cichocki served as senior vice-president of US sales at Whirlpool, where he managed a portfolio valued at more than $10bn across retail and direct-to-consumer channels.
He also spent more than 20 years at Kraft Foods and Nabisco in a range of senior leadership roles.
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