MICHELIN
(Compagnie Generale des Etablissements Michelin S.C.A.)
Company Profile
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Business Overview
-The Company is a market leader in designing and manufacturing tires for all vehicles, primarily focusing on passenger cars, light trucks, and commercial vehicles.
-The Company is comprised of three business segments:
| Business Segments | ||
| Automotive tires and related distribution | Road transportation tires and related distribution | Specialty businesses and related distribution: Consists of tires for agricultural, two-wheel, aircraft, and earthmoving equipment; as well as Michelin Travel Partner and Michelin Lifestyle businesses |
Global Tire Market
-In 2020, the Company was the largest tire manufacturer in the world with a 15.0% global market share.
-In 2020, the value of the global tire market was approximately USD 153 billion. Light vehicle tires accounted for approximately 60% of sales while truck tires accounted for approximately 30% of sales. In terms of volume, approximately 1.4 billion car and light truck tires were sold in 2020, while approximately 200 million truck and bus tires were sold.
| Tire Market in 2021 | (in million units) |
| Passenger car and light truck tires | Truck tires | |||||||
| OE | Replacement | OE | Replacement | |||||
| 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |
| West and Central Europe | 67 | 71 | 315 | 287 | 5.8 | 4.7 | 17.2 | 15.4 |
| CIS | 7 | 7 | 61 | 53 | 1.1 | 0.9 | 8.6 | 8.3 |
| North America | 62 | 63 | 327 | 288 | 6.1 | 4.9 | 31.6 | 26.2 |
| South America | 12 | 11 | 68 | 54 | 2.2 | 1.6 | 14.0 | 11.8 |
| China | 115 | 112 | 136 | 132 | 28.3 | 33.9 | 43.4 | 46.8 |
| Asia (excluding China, India) | 65 | 64 | 141 | 134 | 4.0 | 3.4 | 22.8 | 21.6 |
| Africa, India, Middle East | 28 | 25 | 106 | 91 | 3.0 | 2.3 | 28.5 | 25.6 |
| Total | 356 | 353 | 1,154 | 1,039 | 50.5 | 51.7 | 166.1 | 155.7 |
Source: Company estimates
-The Company expects that the passenger car and light truck tire market will grow between 0% and 4% in 2022. The Company also anticipates growth between 1% and 5% for the truck tire market, and growth between 6% and 10% for the specialty tire markets.
-In forecasting estimates for long term tire demand, the Company expects new tire demand to increase by 0-2% in mature markets and by 2-4% a year in newer markets.
Competitors
Shareholders
| -The Company is listed on the NYSE Euronext Paris Stock Exchange. | (As of Dec. 31, 2021) |
| Shareholder | Investment Ratio (%) |
| Foreign institutional investors | 65.5 |
| French institutional investors | 23.6 |
| Individual shareholders | 9.2 |
| Employee Shareholder Plan | 1.7 |
| Total | 100.0 |
Products
Tires
-Fuel efficient tires
-Run flat tires
-Winter tires
-Summer tires
-All-season tires
-Sports performance tires
-Luxury performance tires
-Long life tires
-Tires with EverGrip self-regenerating tread technology
Supplemental Information 1
>>>Business Report FY ended Dec. 31, 2007
>>>Business Report FY ended Dec. 31, 2008
>>>Business Report FY ended Dec. 31, 2009
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>>>Business Report FY ended Dec. 31, 2018
>>>Business Report FY ended Dec. 31, 2019
>>>Business Report FY ended Dec. 31, 2020
Archives of Past Exhibits
Note: A figure in brackets ( ) indicates a loss