POST Online Media Lite Edition


Michelin H1 profit up, sales down

Staff Writer |
Michelin reported that its first-half net income increased to 769 million euros from 707 million euros last year.

Article continues below

Earnings per share were 4.24 euros, higher than 3.79 euros a year ago. Operating income from recurring activities grew to 1.405 billion euros, or 13.7% of net sales from last year's 1.262 billion euros or 12 percent of sales.

Net sales dropped to 10.292 billion euros from 10.497 billion euros in the prior year.

The company noted that passenger car and Light truck tire markets rose over the period, with replacement sales leveling off in the second quarter.

Volumes went up 2.5%, beating the market in every segment, rising 4% in Passenger car and Light truck tires and 1% in Truck tires.

What to read next

Michelin 2016 net income increased to 1.68 billion euros
Hainan Airlines brings five-star cuisine with menu by Michelin-starred chefs
Nissan posts 24.9% rise in H1 net profit