2004 Results – Michelin Reports Another Powerful Year
In 2004 Group Michelin achieved a turnover of 15.6 billion euros ($21.07 billion) and an operating income of 1.299 billion euros, 8.3 per cent of the company’s total turnover. At the same time, net income rose to 527 million euros ($705 million). Put simply, last year’s figures don’t contain any big surprises.
In spite of significant price increases in several areas, Group Michelin proved its lasting profitability. At the end of 2004 Michelin had net debts of 3.2 billion euros, a number which is broadly in line with what the financial world expected. The largest proportion of the operating income came from the passenger car/SUV tyre division, which brought in 731 million euros. The truck division’s operating income totalled 548 million euros, a relatively high figure considering that the segment’s turnover is significanly lower than the passenger car division. For the first time, the group’s ‘other activities’ division, found its way into the black, reporting 20 million euros of operating income.