Michelin's net rises 39% in 2011

摘要

Michelin SCA, the world's No.2 tyre-maker, said its net income rose 39% to 1.46 billion euros ($2 billion) in 2011, on a 16% increase in revenue to 20.72 billion. The increase in profit came despite a sales volume increase of just 6.7%, lower than the 8% increase the company had forecast. But price hikes boosted earnings by 2.01 billion euros, outstripping the 1.75 billion euro negative impact of higher raw material costs.