Mexican Media Brands
Michelin’s Income Climbs 19%
Michelin & Cie. reports its operating income before special items grew to €2.6 billion ($2.9 billion) in 2015 from €2.2 billion in the previous year.
#economics
Share
Michelin & Cie. reports its operating income before special items grew to €2.6 billion ($2.9 billion) in 2015 from €2.2 billion in the previous year.
All segments beat industry sales averages, led by a 7% jump in demand for car and light-truck tires. The company’s operating margin grew to 12% in the second half of the year. Margins for the period gained nearly 3% points each for light tires (to 12%) and truck tires (to 11%).
For 2016, Michelin predicts rising demand for its tires in mature markets and flat growth elsewhere. The tiremaker targets operating margins before special items in 2016-2020 at 11%-15% for light tires and 9%-13% for truck tires. The company aims to increase margins on specialty tires, such as those used on mining equipment, to 24% from 19% last year.
RELATED CONTENT
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.