Michelin Surpasses Competitors

Michelin consolidated net sales for 2001 amounted to 15.775 bn Euro (+2.5 per cent over 2000).

The operating profit reached 1.04 bn Euro (-10.5 per cent) and net profit was 314 million Euro (-28.

4 per cent). With 6.6 per cent operating profit as a percentage of sales in a very difficult and competitive economic environment, Michelin easily outperformed its two biggest competitors Bridgestone and Goodyear.

Bridgestone is still suffering from the consequences of the Firestone recall and Goodyear has reported losses in 2001. In a press conference in Paris Michelin boss Edouard Michelin spoke about the previous business year and Chief Financial Officer Michel Rollier gave detailed figures – also for the various divisions. It was the first time that Michelin has presented the company’s figures in such a major press conference, which was followed by two others in London and New York.