Mesnac expects strong profit growth on robust overseas demand

Qingdao, China – Mesnac expects a significant increase in net profit for 2024, driven by strong overseas investments from domestic tire manufacturers and steady growth in its rubber machinery business.

According to its latest financial forecast, Mesnac expects net profit attributable to shareholders to range between ¥490 million (€59 million) and ¥530 million for the full year 2024, reflecting a 47.08% to 59.09% increase from ¥333.15 million in 2023.

Excluding non-recurring gains and losses, net profit is projected at ¥425 million to ¥465 million, marking a 61.77% to 77.00% year-on-year rise.

The Chinese tire and rubber machinery manufacturer did not provide a projection for full-year revenue.

Mesnac attributed the strong performance to a combination of a “surge in overseas investments” by local Chinese tire makers.

Furthermore, the group said it has enhanced its project delivery capacity, which helped increase “both revenue and profitability in the rubber equipment business.”

In addition to the rubber & tire machinery business, Mesnac also includes rubber materials and R&D businesses.