Michelin’s revenue increased by 8.4% to €21.2bn in the last year, which is about €100m more than we had expected. The group’s operating earnings of €2.58bn (+19%) were considerably higher than our projected number of €2.0bn. However, this excludes what management calls ‘non-recurring’ items of €370m, i.e. stated EBIT amounted to €2.2bn, some 10% more than our number which does not regard restructuring charges as one-offs. However, net earn
16 Feb 2016
Superb passenger car tyre profits in 2015
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Superb passenger car tyre profits in 2015
- Published:
16 Feb 2016 -
Author:
Hans-Peter Wodniok -
Pages:
2
Michelin’s revenue increased by 8.4% to €21.2bn in the last year, which is about €100m more than we had expected. The group’s operating earnings of €2.58bn (+19%) were considerably higher than our projected number of €2.0bn. However, this excludes what management calls ‘non-recurring’ items of €370m, i.e. stated EBIT amounted to €2.2bn, some 10% more than our number which does not regard restructuring charges as one-offs. However, net earn