Groupe Michelin Outlines 2013 Results, 2015 Goals - Tire Review Magazine

Groupe Michelin Outlines 2013 Results, 2015 Goals

Groupe Michelin reported its earnings targets for 2015 and predicted that volume will rise this year and first-half spending on supplies such as rubber will decline.
Operating profit excluding one-time items dropped 7.8% for 2013 to 2.23 billion euros, Michelin said. Sales fell 5.7% year-over-year to 20.2 billion euros. The company plans to raise the dividend 4.1% to 2.50 euros a share.
Michelin said it plans to sell 3% more tires in 2014, in line with the global industry.
Chief Executive Officer Jean-Dominique Senard said that the manufacturer will probably achieve its $1.37 billion cost-savings goal for 2016.
The tiremaker plans to add factories in emerging markets where demand for cars is forecast to rise, such as Brazil, China and India. In addition to these emerging markets, Senard mentioned the U.S. At the same time, Groupe Michelin will reduce costs in Europe, including cutting jobs in France, as the region’s automotive sales linger at a two-decade low. Michelin plans to raise operating profit to 2.9 billion euros by next year.
“This gives us greater flexibility,” and the company is open to acquisitions, “probably in Asia,” said Senard, noting that the company cut net debt 87% last year.

You May Also Like

Atturo Tire secures Cubs Radio sponsorship for 2024 season

In addition to the in-game sponsorship of stolen bases, Atturo will run audio commercials during game day broadcasts throughout the season.

Cubs-Atturo-sponsorship

Atturo Tire has joined with Cubs Radio to reach the Midwest baseball audience. For the entire 2024 Major League Baseball season, Atturo Tire said it will be mentioned in game as the sponsor each time the Cubs steal a base. In addition to the in-game sponsorship of stolen bases, Atturo will run audio commercials during game day broadcasts throughout the season.

RNR Tire Express opens nominations for 2024 Mother’s Day Giveaway

This year’s event includes $100,000 in prizes, as well as a new 2024 Buick Encore for one select nominee.

RNR-Mothers-Day-giveaway
Two Chapel Hill Tire locations earn the Blue Seal of Excellence

The Blue Seal of Excellence is a mark of distinction bestowed by the National Institute for Automotive Service Excellence (ASE).

Chapel-Hill-Tire-Atlantic-Avenue-in-Raleigh
Ascenso now accepting submissions for Farm Service Truck Technician Program

Eligible nominees are agriculture, construction and industrial tire technicians with at least five years of service in the US.

Ascenso-Technician-Recognition-2024-Logo
McCarthy Tire Service opens commercial wheel refreshing facility

According to the company, the facility has the ability to refinish over 1,000 wheels per day.

McCarthy-Tire-wheel-refreshing-facility

Other Posts

Bartec TPMS adds Joe Miller to its field service team

Miller previously spent four years with Snap-on as an equipment specialist, and most recently with GPC/NAPA at the St. Louis company-owned auto parts stores.

Joe-Miller-Bartec
TBC promotes Don Byrd to president and CEO

Byrd joined TBC in April 2018 as executive vice president of TBC and president & COO of National Tire Wholesale (NTW).

Don-Byrd-TBC-1400
Yokohama Rubber partners with Haupt Racing Team

Yokohama Rubber said it is aiming for victories at the Nürburgring 24-Hour Race and Nürburgring Langstrecken Serie (NLS) with Advan tires.

Yokohama-HRT-Advan
Discount Tire strikes sponsorship deal with the Los Angeles Angels

The sponsorship will run for the entire 2024 season in conjunction with the Los Angeles Angels.

Discount-Tire-LA-Angels