Turnover: 28.59 billion EUR (2022)

Country: France

  • A member of the exclusive club of 40 companies listed on the CAC 40, Michelin has been contributing to France's economic influence abroad since 1889, thanks to its tire production.
  • The company's strength lies in its ability to innovate in order to maintain market leadership:
    • Radial carcass tire, in 1968, allowing lower fuel consumption thanks to its construction.
    • PAX system in 1996, a rim + tire assembly that limits the pressure exerted on the tire, replaced today by the brand's "self-supporting" system: Michelin ZP.
    • Sales of tires for two-wheeled vehicles represent only a few hundred million €. This activity remains marginal in the Group's sales

News

Michelin strengthens its business outside tires 21/06/2023

  • Michelin sales in 2022: €26.8 billion
  • Percentage of tire-related business by 2030: 75% to 70%
  • FGC is a company specializing in high-tech materials and fabrics
  • Value of Michelin's acquisition of Flex Composite Group (FGC): 700 million euros
  • FCG sales in 2022: 200 million euros
  • FCG employs 400 people in six production centers in Belgium and Italy
  • Michelin acquired Fenner in 2018
  • Sales of Michelin's high-tech materials business in 2022: €1 billion
  • Expected sales of Michelin's high-tech materials business after the acquisition of FCG: €1.3 billion
  • FCG average organic growth between 2015 and 2022: 11%

Michelin launches a new wave of acquisitions to ensure diversification 20/06/2023

  • Michelin acquires Italian company Flex Composite Group (FCG)
  • FCG enterprise value: 700 million euros
  • FCG has 400 employees
  • FCG business sectors: marine, supercars and electric vehicles, sports, construction
  • FCG sales in 2022: 202 million euros
  • FCG average annual growth rate since 2015: 11
  • Michelin target: 20% of sales in "non-tire" activities by 2030
  • Michelin "non-tire" sales in 2022: 1.3 billion euros (or 5% of total)
  • Previous Michelin acquisitions before the Covid crisis: approx. 3 billion euros (Fenner, Multistrada, Camso)

Michelin: 5 to 10 billion for acquisitions. 13/05/2023

  • Over 80% of sales under the Michelin brand.
  • Less than 10% of passenger car tire sales from original equipment
  • Objective of generating between 20% and 30% of sales in non-tire businesses by 2030, compared with 5% in 2020.

Tire recycling about to take off 04/04/2023

  • Total recycling capacity of the joint venture by 2030: 1 million tonnes of end-of-life tires per year (one-third of the annual volume in Europe).
  • First recycling plant located in Uddevalla, Sweden, operational by 2025.
  • Products: regenerated carbon black, reusable oils for tire manufacturing and the petrochemical industry.
  • Partners: Michelin, Enviro Systems, and Antin Infrastructure Partners (majority shareholder).

Automotive: Michelin supports creation of tire recycling group 31/03/2023

  • Scandinavian Enviro Systems and Antin create a tire recycling company.
  • Objective: to build several plants in Europe by 2030.
  • Antin stake: majority
  • Enviro stake: 30%.
  • First plant operational in Uddevalla, Sweden, by 2025.
  • Initial recycling capacity: 34,500 tonnes of used tires (40% of annual volume in Sweden).

Michelin has laid the foundations in hydrogen. 16/11/2022

  • Michelin develops the HyLight fuel cell
  • The Symbio fuel cell (co-founded by Michelin) has been chosen by Stellantis to prepare its first hydrogen-powered vehicle
  • 30% of sales outside tires by 2030
  • Michelin invests in Hympulsion to increase the number of recharging stations

Automotive crisis: Michelin slips through the cracks again 26/07/2022

  • Sales of the Clermont-Ferrand-based tire manufacturer rose by 18.7% in the first half, and operating income by 7.7
  • The new car tire market was down 2% in the first half compared with 2021, which was already at a low ebb
  • Original equipment only accounts for 12% of passenger tire sales
  • the replacement market is more stable than the new market
  • The manufacturer is raising its prices, with three increases over the half-year, which generated 1.43 billion in additional sales. For the rest of the year, the Group has revised its market forecasts downwards, but is maintaining its financial forecasts

Hydrogen: Michelin and Forvia join forces with Germany's Schaeffler for fuel cells 08/06/2022

  • Innoplate is a joint venture between Michelin and Forvia (ex-Faurecia) in hydrogen which, stacked in hundreds with membranes, enables the production of electricity.
  • Innoplate is financed by Symbio and Schaeffler, who plan to invest at least 100 million euros in a new production unit in Haguenau, Bas-Rhin.
  • Its target for early 2024 is 40 employees and production of 4 million bipolar wafers, followed by a ramp-up to 120 employees and production of 50 million wafers. The joint venture is determined to start producing bipolar wafers in early 2024

Financial Data

DUNS: 855200507

Legal Name: MANUFACTURE FRANCAISE DES PNEUMATIQUES MICHELIN

Address: 23 PL DES CARMES DECHAUX , 63000 CLERMONT-FERRAND

Number of employees: Plus de 10 000 salariés (2021)

Capital: 504 000 004 EUR


Financial Data:

Year 2021 2020 2019 2018 2017 2016 2015
Turnover 5 205 981 000 4 522 654 000 5 366 674 5 492 426 000 5 330 684 820 4 952 683 380 5 109 714 260
Gross margin (€) 3 379 901 3 039 063 3 440 639 3 495 148 000 3 356 261 461 3 257 075 412 -
EBITDA (€) 455 260 99 499 635 905 390 809 000 293 980 236 340 660 855 -
Operating profit (€) 99 841 -111 849 118 389 161 079 000 23 567 842 95 415 395 -
Net profit (€) -189 699 000 -185 865 000 -4 143 126 038 000 -139 460 430 13 051 570 18 541 060
Turnover growth rate (%) 15,1 -15,7 -2,3 3 7,6 -3,1 -
Ebitda margin rate (%) 8,7 2,2 11,8 7,1 5,5 6,9 -
Operating margin rate (%) 1,9 -2,5 2,2 2,9 0,4 1,9 -
Working Capital (turnover days) 26,3 37,6 34,5 30,8 40,1 37 -
Working Capital requirements (turnover days) 61,5 66,8 57,5 54,2 62,5 66,2 -
Net margin (%) -3,6 -4,1 -0,1 2,3 -2,6 0,3 -
Added value / Turnover (%) 35,8 35,1 34,6 34,4 33,9 36,3 -
Wages and social charges (€) 1 344 919 1 338 326 1 283 698 1 350 336 000 1 361 898 364 1 312 290 347 -
Salaries / Turnover (%) 25,8 29,6 23,9 24,6 25,5 26,5 -

Company Managers:

Position First Name Last Name Age Linkedin
Directeur général Yves Chapot 62
Directeur général délégué Nour Bouhassoun 65
Directeur général délégué Carine Fediere 49
Autre Florent, Claude, Remi Menegaux 62
Commissaire aux comptes suppléant Jean-baptiste Deschryver 53

Studies mentioning this company

The service market for scooters and motorcycles - France

Other companies mentioned:

  • Michelin Groupe
  • Brembo
  • Yamaha Motor
  • Honda Motorcycle
  • BMW Mottorrad
  • Peugeot Motocycles
  • Moto Dôme Services
  • Izyscoot
  • Dafy Moto
  • Moto Axxe
  • Moto Expert
  • Bihr
  • Repair and Run
The tire market - France

Other companies mentioned:

  • Michelin Groupe
  • Goodyear
  • Bridgestone
  • Euromaster
  • Speedy (Bridgestone)
  • Mobivia Groupe (Norauto, Midas)
  • Point S
  • Allopneus
  • Feu Vert
  • Norauto France
  • Pirelli
  • Continental
  • Midas France
  • Hankook Tire
  • Roady (ITM Intermarché)
  • WYZ Entreprise
  • Bestdrive (Continental group)
  • Bestdrive (Continental group)
  • First Stop (Bridgestone)
  • 1001Pneus
The car maintenance market - France

Other companies mentioned:

  • Speedy (Bridgestone)
  • Mobivia Groupe (Norauto, Midas)
  • Feu Vert
  • Carglass France (D'Ieteren Group)
  • Point S
  • Michelin Groupe
  • Euromaster
  • Thule
  • Oscaro.com (D'Ieteren Groupe)
  • AD Autodistribution Groupe (D'Ieteren Groupe)
  • TVH (D'Ieteren Groupe)
  • Parts Holding Europe - Auto Distribution (D'Ieteren Groupe)
  • Norauto France
  • Roady (ITM Intermarché)
  • Autobacs
  • Garages AD Autodistribution (Autodistribution groupe)
  • Auto Primo
  • Auto Leclerc
  • Provac (PAC Groupe)
  • Shine group
  • Gys
  • Delko
  • Alliance Automotive Groupe
  • First Stop (Bridgestone)
The tire market - Italy

Other companies mentioned:

  • Pirelli
  • Continental
  • Michelin Groupe
  • Goodyear
  • Bridgestone
  • Bridgestone
  • Kumho Tire
  • Dunlop Tyres
ESM The precision cold-rolled steel market - France

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  • Safran Groupe
  • Zodiac Aerospace (Groupe Safran)
  • Thales
  • Daher
  • Figeac Aéro Groupe
  • Schneider Electric
  • Legrand Groupe
  • Danfoss
  • SEB Groupe
  • Forvia (ex Faurecia)
  • Michelin Groupe
  • OPmobility Plastic Omnium Groupe
  • Renault Groupe
  • PSA Peugeot Citroen
  • Guerbet
  • Biospacelab
  • SKF
  • Alstom
  • Poclain Hydraulics
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  • Fives Group
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  • ArcelorMittal
  • Ferropem (Swiss Steel Group)
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  • LISI Groupe
  • Aciers Coste
  • Metal Tolling Services
  • Saint-Gobain Groupe