French tire manufacturer Michelin has announced its 2011 sales and profit growth.
Michelin sales in 2011 were 20.719 billion euros (27.45 billion US dollars), sales in 2010 was 17.891 billion euros (23.70 billion US dollars); operating profit in 2011 was 1.945 billion euros (2.6 billion US dollars), accounting for sales 9.4% of operating profit in 2010 was 1.695 billion euros ($2.246 billion).
In 2011, Michelin ’s net profit was 1.462 billion euros ($1.937 billion), a year-on-year increase of 39%, and net profit in 2010 was 1.049 billion euros ($1.39 billion).
Michelin’s capital expenditures in 2011 were EUR 1.711 billion (USD 2.267 billion) and net debt was EUR 1.814 billion (USD 2.403 billion). Michelin’s capital expenditures in 2010 were 1.1 billion euros (1.457 billion US dollars) and net debt was 1.629 billion euros (21.58 billion US dollars).
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