Michelin's net profit rose to 1.05 billion euros in 2010

In 2010, France's tire supplier Michelin revenue reached 17.9 billion euros, up 20.8% from 2009 revenue of 14.8 billion euros; EBITDA was 2.66 billion euros (profit rate of 14.9%); operating profit reached 1.7 billion Euro (operating profit rate 9.5%).

In 2010, Michelin's net profit reached 1.05 billion euros, while net profit in 2009 was only 100 million euros; cash flow was 1.32 billion euros. As of the end of 2010, Michelin's net debt decreased from EUR 2.93 billion at the end of 2009 to EUR 1.63 billion.

In 2010, Michelin's passenger car and light truck revenues rose 18.2% year-on-year to 9.8 billion euros; operating profits reached 1 billion euros (operating margin was 10.4%).

In 2010, truck tire revenue reached 5.68 billion euros, which was 26.3% higher than 2009 revenue of 4.5 billion euros; operating profit was 250 million euros (operating margin was 4.4%). Dedicated tire revenues reached 2.42 billion euros; operating profit reached 430 million euros (operating profit rate was 17.8%).

Michelin plans to increase tire sales by at least 6.5% in 2011 by increasing investment.

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