PARIS (Feb. 8, 2001) — The combination of solid unit growth and the positive effect of currency exchange fluctuations helped Group Michelin achieve an 11.9-percent gain in sales last year, to $14.2 billion.
Michelin did not release earnings at this time, but said operating profit was in the range of $1 billion to $1.2 billion, as forecast at the end of the third quarter.
Overall, Michelin reported a 5.6-percent rise in units sold; this figure includes 11.8-percent growth in replacement market sales in North America, which was offset to a degree by a 10.2-percent drop in original equipment sales, Michelin said.
The company was able to hold the negative effects of raw material price increases throughout the year to about 1 percent by better replacement/OE market mix in North America and Asia, sustained price increases of its own, and above-average growth of higher value-added products.
Michelin did not make any forecasts regarding 2001.