Goodyear Tire & Rubber Company has announced that net income in the second quarter of 2012 will increase compared to the same period of last year.

Richard J. Kramer, Goodyear’s president and chief executive officer, said: “In the precarious environment of the economy, our three major businesses have achieved revenue as compared to the same period last year. The year-over-year increase in profits, Goodyear’s encouraging performance in the second quarter of 2012 fully demonstrated that our ability to maintain profitability in different economic cycles has been further strengthened, and has laid a solid foundation for us to continue to steadily advance in a global economic and political environment. basis."

"Global tire sales in the second quarter of 2012 were similar to those of the global economic crisis in 2009. This quarter, Goodyear still received $336 million in operating revenue, which proves that our strategy has played a role," added Mr. Kramer. .

Thanks to the continuously optimized product pricing system and product mix, the single-quarter profit in the second quarter of 2012 increased by 8% compared to the same period in 2011, after removing the impact of exchange rates.

Asia Pacific tire business performance

Asia Pacific Tire Business reported sales of US$600 million in the second quarter of 2012. The increase in tire sales and strong product pricing system and product mix brought in 2% sales growth for the quarter; replacement tire sales fell 8%. The sales of matching tires increased by 19%. Excluding exchange rate effects, single-quarter profit in the second quarter of 2012 increased by 2% from the same period of 2011.

In the second quarter of 2012, the Asia Pacific region’s operating income was US$71 million, an increase of 9% compared to the same period of last year, including improvements in product pricing systems and product mix, which contributed US$21 million in revenue for the quarter, and improved sales. The positive influence came. The cost of the start-up facility at the New Goodyear plant in China and the unfavorable foreign currency translation also affected the operating income in the second quarter.

Insurance claims partially offset the cost of the temporary closure of Thai factories caused by the 2011 floods. At present, the factory's production has been fully restored, and the supply of aviation and passenger car tires has increased.

Results of the first half of 2012

Goodyear’s total sales in the first half of 2012 were 10.7 billion U.S. dollars, a decrease of 3% from the same period of 2011. Excluding exchange rate effects, the strong product pricing system and product mix promoted a single-quarter profit increase of 12% in the first half of 2012 compared to the same period last year.

Goodyear’s operating income for the first half of 2012 was US$628 million, a decrease of US$81 million compared to the same period last year. The year-on-year decline in operating income was mainly attributable to the decline in tire sales.

Compared with the first half of 2011, improvements in product pricing and product mix generated US$838 million in revenue in the first half of 2012, which fully offset the US$591 million in costs associated with rising raw material costs, including cost reduction initiatives. The related $129 million expenditure.

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