Recently, the Michelin Group released its 2015 annual financial report. The financial report shows that Michelin's 2015 sales were 21.199 billion euros, an increase of 8.4% from 19.953 billion euros in 2014; operating profit was approximately 2.577 billion euros, a year-on-year increase of 12.2%; tire sales increased by 3.2%. It is reported that this is mainly due to the growth of the market for passenger tires and light truck tires (up 6.7%). Among them, tire sales increased by 4.2% in the fourth quarter of 2015, and passenger car and light truck tires increased by 8.7%. It is worth mentioning that due to the good operation in the second half of 2015 (12.3%), the gross profit of Michelin has increased significantly. The main performance is that passenger tires and light truck tires both increased by 12.2%, an increase of 2.6 percentage points compared to 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; Annual growth of 18.6%. Through the financial report, it is not difficult to find that among all the Group’s revenues, renminbi revenue accounted for 5% of the total, ranking third in the dollar and euro. Sunard, CEO of Michelin Group, stated: “In 2015, our tire sales exceeded market growth, and we gained a new market share. The growth rate and profitability have improved significantly thanks to the Group’s higher product quality. ." “Looking forward to 2016, we will continue our efforts. We will focus on four areas: strengthening customer service, simplifying operational procedures, deploying digital solutions and improving team capabilities.†The Michelin Group also predicts that in 2016, the market for passenger cars and light trucks and truck tires will continue to rise, maintaining its development trend in 2015. In 2016-2020, Michelin set a higher goal. Excluding operating profit before non-recurring gains and losses, cars and light trucks will reach 11%-15%, truck and bus tires will reach 9%-13%, and specialty tires will reach 17%-24%.
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Comparison of Market Evolution of Michelin Markets in the Past Two Years 