Company Profile For Amtel N.V.

Amtel N.V. (AMVq.L) (London Stock Exchange)

sector: Cyclical Consumer Goods & Services · industry: Tires & Rubber Products ·

As of 2 Dec 2008

2.00USD

Price Change

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Percent Change

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Analyst Recommendations

Overview

Amtel-Vredestein N.V. is engaged in operating tyre manufacturing and distribution business. The Company includes a number of tyre production facilities located in Russia and in Netherlands. The plant produces a range of tyres for a range of vehicles, including passenger cars, trucks, agricultural and military vehicles, and bicycles. The distribution business of the Company includes a number of retail outlets and a wholesale division. The products of the Company are distributed in Russia, the Netherlands and other countries. On March 27, 2008, the Company completed the sale of its wholly owned subsidiary CJSC Moscow Tyre Plant-M. In June 2009, the Company filed to the Moscow Arbitration Court a petition in bankruptcy.

Quick Financial Synopsis

BRIEF: For the three months ended 31 March 2009, Amtel N.V.'s revenues decreased 47% to $125M. Net loss totaled $34M up from $14M. Revenues reflect decreased income from European manufacturing and lower income from Russian manufacturing segment. Higher loss reflects an increase in cost of sales, higher depreciation charges, the presence of restructuring costs, higher operating costs and a rise in distribution expenses.