CFO of the US-owned company Niels Erik Bech-Jacobsen told Thursday's news conference in Kranj that the overall results could not be compared directly to the year before due to changes in the business model of the European part of the Goodyear concern.

Goodyear Dunlop managing director for Central and South Eastern Europe, Thierry Villard, expressed satisfaction with the results, attributing the increase in local markets (Slovenia, Croatia, Serbia, Bosnia-Herzegovina, Kosovo, Macedonia, Albania) to a 4% rise in the volume of tyre sales to 2.26m.

Capital expenditure (capex) last year topped EUR 10m, which Villard said meant the company had invested almost EUR 190m into the plant since 1998. He said the policy would continue this year despite the difficult economic situation with over EUR 10m allocated for long-term improvements.

"We would like to stay one of the most successful foreign investments in Slovenia," the managing director said, adding that they would continue to expand the Vulco retail network in Slovenia, Croatia, Serbia and Macedonia, where the first franchise opened last year.

The Goodyear concern expects the long-term growth in the global tyre industry to continue in 2012 but at a slower pace as first projected. Volume sales are projected to drop by 2% and raw material costs increase by 9% on 2011.

Goodyear Dunlop Sava Tires employs around 1,400 people and is one of the leading tyre manufacturers in SE Europe. Since 2004, the company is in sole ownership of Goodyear Dunlop Tires Europe, a part of the Goodyear concern.