The financial report released by the world-renowned tire manufacturer Michelin Group in France on July 730 showed that the Asian tire market, especially the Chinese market, has performed outstandingly in terms of demand growth. Glass Bottle,Glass Bottles,Glass Pump Bottles,Glass Bottles With Lids Jiangsu Fantasy Packaging New Material Co., Ltd. , https://www.jsfantasypack.com
In an interview with Xinhua, the managing partner of the Michelin Group said that China's auto and tire market will maintain its strong growth momentum in the next 10 to 15 years. Michelin has factories in Shanghai and Shenyang, China, and can meet China's capacity with sufficient capacity. High-speed consumer demand. He also expressed his confidence in the long-term development of the Chinese market and expressed appreciation for the investment environment of foreign companies in China.
According to the financial report, due to the recovery of the global economy and the increase in demand for major tire markets, Michelin's performance in the first half of 2010 rose sharply and earnings exceeded expectations.
The financial report shows that in the first half of 2010, Michelin's turnover was 8.349 billion euros, a year-on-year increase of 17%; net profit was 504 million euros, compared with a net loss of 122 million euros in the same period in 2009; the global investment amount reached 2. 5.1 billion euros, down 21.3% year-on-year.
Financial results show that from January to June 2010, sales of heavy truck tires increased by 23.9% year-on-year, operating profit reached 126 million euros, while a loss of 163 million euros in the same period last year; sales of passenger cars and light truck tires increased by 17% year-on-year Operating profit reached 497 million euros, more than double the year-on-year increase.
Senar said: "With the gradual recovery of the global economy, the Michelin Group expects annual sales to increase by about 10% in 2010. Rising raw material prices will have a negative impact on Michelin's full-year earnings."
Founded in 1889 in Clermont-Ferrand, France, Michelin currently has an annual production capacity of 190 million tires and has sales offices in more than 170 countries and regions. In 2009, sales of Michelin contracted by 14.8%, annual turnover was only 14.807 billion euros, down 9.8%; net profit was only 104 million euros, down 70.9%.