National Tyre & Wheel Reports Half-Year Loss Amid Strategic Adjustments

National Tyre & Wheel Ltd. ( (AU:NTD) ) has shared an update.

National Tyre & Wheel Ltd. reported a net loss of $42.8 million for the half-year ending December 2024, primarily due to a significant impairment charge against intangible assets. The company’s revenue slightly decreased, and operating EBITDA fell to $10.6 million. Challenges included lower-than-expected Dunlop sales, customer attrition in Western Australia, and economic downturns in New Zealand. Despite these setbacks, the company maintains a solid balance sheet and is making strategic acquisitions to improve future performance. A recent change in leadership and ongoing discussions with Goodyear regarding Dunlop distribution indicate efforts to stabilize operations.

More about National Tyre & Wheel Ltd.

National Tyre & Wheel Ltd. operates in the automotive industry, focusing on the distribution and retail of tyres and wheels. The company offers a range of products and services, including wholesale and retail operations, with a market focus on Australia and New Zealand.

YTD Price Performance: -23.08%

Average Trading Volume: 233,338

Technical Sentiment Consensus Rating: Buy

Current Market Cap: A$33.54M

For detailed information about NTD stock, go to TipRanks’ Stock Analysis page.