Groupe Michelin reports sales increase in 2000
Groupe Michelin's consolidated net sales, in euros, were up 11.8% in 2000 compared to 1999. Michelin recorded sales of 15.396 billion euros last year.
However, if the year-end currency exchange rate is taken into consideration, Michelin's sales rose 5.8%. "Despite a recovery noticeable towards the end of the year, the euro was, over the entire year, strongly depreciated compared to the main currencies," said the report.
Based on tonnage, the growth in sales was the same in Europe as in North America -- around 5%. However, the original equipment segment grew in Europe, while it decreased sharply in North America.
Tonnage in South America increased by 24%. In Asia, tonnage was up 1.9%.
Michelin is expected to release its full annual report on Feb. 23. Goodyear Tire & Rubber Co. will release its year-end financial report on Feb. 14. Cooper Tire & Rubber Co. will announce its year-end earning results before the market opens on Feb. 9.