echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Michelin's operating profit in 2015 increased by 12.2% year-on-year

    Michelin's operating profit in 2015 increased by 12.2% year-on-year

    • Last Update: 2022-11-29
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Recently, the Michelin Group released its 2015 annual financial report
    .
    According to the financial report, Michelin's sales in 2015 were 21.
    199 billion euros, an increase of 8.
    4% compared with 19.
    553 billion euros in 2014; Operating profit was approximately EUR 2,577 million, up 12.
    2% year-on-year; Tire sales increased by 3.
    2%.

    Michelin

    It is reported that this is mainly due to the growth of the passenger car tire and light truck tire market (up 6.
    7%)
    .
    In the fourth quarter of 2015, tire sales increased by 4.
    2%, while tires for passenger cars and light trucks increased by 8.
    7%.

    It is worth mentioning that Michelin's operating margin increased
    significantly due to the good performance in the second half of 2015 (12.
    3%).
    Passenger car tires and light truck tires both increased by 12.
    2%, an increase of 2.
    6 percentage points compared with the second half of 2014.
    Truck tires increased by 11.
    1%, an increase of 2.
    6 percentage points compared to the second half of 2014; Specialty tires grew 18.
    6%
    for the full year.

    It is not difficult to find through the financial report that of all the group's revenue, RMB revenue accounts for 5% of the whole, ranking third
    after the US dollar and the euro.

    According to Michelin Group Lin's CEO Sunald, in 2015 our tire sales outpaced market growth, gained new market share, and significantly improved our growth rate and margin, thanks to the Group's higher product quality
    .
    Looking ahead to 2016, we will continue our efforts
    .
    There are four main areas: strengthening customer service, simplifying operating procedures, deploying digital solutions and improving team capabilities
    .

    The Michelin Group also predicts that the market for cars and light trucks and truck tires will continue to rise in 2016, maintaining the trend
    of 2015.

    For 2016-2020, Michelin set higher targets
    .
    Operating profit before deducting non-recurring profit and loss will reach 11%-15% for cars and light trucks, 9%-13% for truck and bus tires, and 17%-24%
    for special tires.

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.