Feb 16, 2017
Improvements in consumer-grade tire segment, helped Michelin Group to increase its net profit for 2016 by 43%.
Michelin's net profit for the year amounted to 1.7 billion. Euros with net sales for the period reached 20.9 billion. Euro. For comparison, in 2015 the net sales of the French tire maker totaled 21.2 billion euros, and net profit -. 1.2 billion euros.. earnings ratio to the company's sales reached 8.1%.
Margin of profit in the segment of passenger and light truck tires was 16.5%, which is 5% more than in 2015. Margin of profit in the segment of truck tires fell slightly - to 9.7%. The margin in the segment of specialized tires remained at last year's level of 18.6%.
Production Michelin profit for the 2016 financial year rose by 4.5% - to 2.7 billion euros, while the volume of tire sales for the year increased by 2.1%.
According to the Michelin, the world market of passenger and light truck tires (as in the replacement segment, as well as original equipment) increased by 3%, truck tire market grew by 1%, and a one percent decline was noted in the segment of specialized tires.