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According to Michelin Tire’s first half-year financial report recently released, benefiting from the economic recovery, the company’s sales in the first half of 2021 were approximately 11.
2 billion euros, a year-on-year increase of 19.
6%; operating profit reached 1.
421 billion euros, compared to 310 million in 2020 Euro, the growth rate reached 358.
39%
.
Compared with the financial data in 2019, Michelin has almost emerged from the haze of the epidemic this year.
In 2021, its sales will be about 500 million yuan less than that in 2019, and its operating profit will be about 200 million yuan less
.
Florent Menegaux, Chairman of the Michelin Group, said that the performance of the Michelin Group in the first half of the year was very good, but these results do not deny the continued existence of the crisis.
I want to thank all employees for allowing Michelin to continue to maintain its leading position in the tire industry
.
The financial report shows that the company has shown growth in almost all markets, especially large-size tires of 18 inches and above
.
Total tire sales increased by 22.
8%
.
1.
Passenger car tire market 1.
Passenger car replacement market grew by 25%.
According to data, the Michelin passenger car replacement market rebounded strongly in the first half of this year, increasing by 25% .
Among them, the second quarter performed very well, with an increase of 46% on the basis of the first quarter .
It is worth mentioning that, compared with 2020, due to the proper management of the epidemic, China has returned to normal market conditions since February.
The first quarter performed strongly, with an increase of 38% .
2.
Passenger vehicle supporting business increased by 27%.
As for Michelin's tire supporting business, it also increased by 27% .
However, Michelin mentioned that the supporting business can achieve substantial growth, mainly due to the relatively low base in 2020 .
At the beginning of this year, automakers around the world were plagued by chip shortages.
More than 20 tire companies stopped production, and more than 40 factories related to these auto companies have stopped production/reduced production.
This has led to the global demand for original equipment tires compared with 2019.
It is still down by 14%
.
Similarly, China’s market demand grew the most, with a 78% increase in the first quarter, but a 8% drop in demand in the second quarter
.
The European and North American markets began to recover in the second quarter, increasing by 93% and 146%
.
2.
Truck tire market 1.
Truck tire replacement market grew by 22%.
In terms of truck replacement business tires, as of the end of June, global demand for tires increased by 22%, of which the second quarter increased by about 26% compared with the previous period .
The specific growth strength varies from country to country.
Among them, driven by strong demand, the European truck replacement market has increased by 27%, and Southeast Asia's demand has increased by 9% .
The markets of southern European countries are already above the level of 2019 .
2.
The truck tire supporting market grew by 29%, benefiting from the rebound of the global economy and the resulting traffic demand.
As of June 2021, the number of truck supporting business tires increased by 29% .
Among them, the first quarter increased by 50%.
After the Chinese market began to implement the National VI standards, the second quarter also increased significantly .
Michelin said that in the first half of 2021, global truck original equipment demand has been higher than in the same period in 2019, mainly due to the strong growth in China, while the European and American markets are still lower than in 2019 .
In summary, Michelin has always been confident in its business capabilities.
At the beginning of this year, Michelin stated that even in the uncertain 2021, 2021 operating profit is expected to reach 2.
5 billion euros, and the passenger car and light truck tire market is growing.
6% to 10%; the specialty tire market is expected to grow by 8% to 12% .
But after the financial results in the first half of this year came out, Michelin still somewhat underestimated its healing ability
.
Therefore, this time Michelin stated that it will report upward to revise its 2021 plan
.
After the revision, the passenger car market is expected to grow between 8% and 10%, the specialty tire market will grow by 10% to 12% within a year, and the operating profit will be changed from 2.
5 billion euros to 2.
8 billion euros
.
2 billion euros, a year-on-year increase of 19.
6%; operating profit reached 1.
421 billion euros, compared to 310 million in 2020 Euro, the growth rate reached 358.
39%
.
Compared with the financial data in 2019, Michelin has almost emerged from the haze of the epidemic this year.
In 2021, its sales will be about 500 million yuan less than that in 2019, and its operating profit will be about 200 million yuan less
.
Florent Menegaux, Chairman of the Michelin Group, said that the performance of the Michelin Group in the first half of the year was very good, but these results do not deny the continued existence of the crisis.
I want to thank all employees for allowing Michelin to continue to maintain its leading position in the tire industry
.
The financial report shows that the company has shown growth in almost all markets, especially large-size tires of 18 inches and above
.
Total tire sales increased by 22.
8%
.
1.
Passenger car tire market 1.
Passenger car replacement market grew by 25%.
According to data, the Michelin passenger car replacement market rebounded strongly in the first half of this year, increasing by 25% .
Among them, the second quarter performed very well, with an increase of 46% on the basis of the first quarter .
It is worth mentioning that, compared with 2020, due to the proper management of the epidemic, China has returned to normal market conditions since February.
The first quarter performed strongly, with an increase of 38% .
2.
Passenger vehicle supporting business increased by 27%.
As for Michelin's tire supporting business, it also increased by 27% .
However, Michelin mentioned that the supporting business can achieve substantial growth, mainly due to the relatively low base in 2020 .
At the beginning of this year, automakers around the world were plagued by chip shortages.
More than 20 tire companies stopped production, and more than 40 factories related to these auto companies have stopped production/reduced production.
This has led to the global demand for original equipment tires compared with 2019.
It is still down by 14%
.
Similarly, China’s market demand grew the most, with a 78% increase in the first quarter, but a 8% drop in demand in the second quarter
.
The European and North American markets began to recover in the second quarter, increasing by 93% and 146%
.
2.
Truck tire market 1.
Truck tire replacement market grew by 22%.
In terms of truck replacement business tires, as of the end of June, global demand for tires increased by 22%, of which the second quarter increased by about 26% compared with the previous period .
The specific growth strength varies from country to country.
Among them, driven by strong demand, the European truck replacement market has increased by 27%, and Southeast Asia's demand has increased by 9% .
The markets of southern European countries are already above the level of 2019 .
2.
The truck tire supporting market grew by 29%, benefiting from the rebound of the global economy and the resulting traffic demand.
As of June 2021, the number of truck supporting business tires increased by 29% .
Among them, the first quarter increased by 50%.
After the Chinese market began to implement the National VI standards, the second quarter also increased significantly .
Michelin said that in the first half of 2021, global truck original equipment demand has been higher than in the same period in 2019, mainly due to the strong growth in China, while the European and American markets are still lower than in 2019 .
In summary, Michelin has always been confident in its business capabilities.
At the beginning of this year, Michelin stated that even in the uncertain 2021, 2021 operating profit is expected to reach 2.
5 billion euros, and the passenger car and light truck tire market is growing.
6% to 10%; the specialty tire market is expected to grow by 8% to 12% .
But after the financial results in the first half of this year came out, Michelin still somewhat underestimated its healing ability
.
Therefore, this time Michelin stated that it will report upward to revise its 2021 plan
.
After the revision, the passenger car market is expected to grow between 8% and 10%, the specialty tire market will grow by 10% to 12% within a year, and the operating profit will be changed from 2.
5 billion euros to 2.
8 billion euros
.
