2022

  • Key figures

    €28.6bn sales

  • Key figures

    €3.4bn segment operating income

  • Key figures

    €2bn net income

resultats-2021

The Michelin in Motion strategic plan, with the Group’s “All Sustainable” vision at its center, engages the entire Group in constantly seeking the right balance between People, Profit and the Planet. Learn more about our performance and objectives for 2030, for each of these three strategic pillars.

SR1
Automotive and related distribution
Including Experiences activities
SR2
Road transportation and related distribution
including Services and Solutions activities
SR3
Specialty business and related distribution
Mining, Off the road, Two-wheel and aircraft tires, High-Tech Materials, Michelin Lifestyle Ltd as well as the activities of Fenner, Camso and those relating to Hight-Tech Materials

INCOME STATEMENT

Sales (in € million)

20,469 2020
23,795 2021
28,590 2022
4,993 5,373 10,103 2020
5,564 6,233 11,998 2021
6,990 7,462 14,138 2022

Segment operating income (in € million)

1,878 2020
2,966 2021
3,396 2022
737 302 839 2020
724 599 1,643 2021
1,044 641 1,711 2022

Segment operating income (as a % of sales)

 

 

9.2% 2020
12.5% 2021
11.9% 2022
marge-operationnelle-des-secteurs_2022_EN

Net income (in € Million)

625 2020
1,845 2021
2,009 2022
VEHICULE_CHARGEMENT_port_1600

Per share data

Basic earning per share (in €)

0.88 2020
2.58 2021
2.81 2022

Dividend per share

1.25€*

Yield

4.8%

 

 

 

Cost structure

  • Key figures

    €6.9bn employee benefit costs

  • Key figures

    €6.7bn raw materials costs

  • Key figures

    €698m invested in R&D in 2021

labo

Breakdown of expenses per nature (as a % of sales)

repartition-des-charges-par-nature_2022_EN

* including purchases other than raw materials and transport of goods (energy, other consumable goods, services, communication, etc.)

 

Raw material cost (in %)

Cash flow and balance sheet

Segment EBITDA (in € million)

3,631 2020
4,700 2021
5,262 2022

Segment EBITDA (as a % of sales)

17.7% 2020
19.8% 2021
18.4% 2022

Capital expenditure (in € million)

1,221 2020
1,705 2021
2,141 2022

Capital expenditure (as a % of sales)

 

6.0% 2020
7.2% 2021
7.5% 2022

Structural free cash flow (in € million)

Definition

The structural free cash flow is defined as free cash flow before acquisitions, adjusted for the impact of raw materials prices on trade receivables, trade payables and inventories

2022

Net debt
€4,320M
Net debt-to-equity ratio
25%
Net debt-to-ebitda ratio
0.82
ROCE*
10.8%

* ROCE measures the profitability of the capital employed by the group (As calculated in the note 1.6 of the 2022 Annual Results Guide).

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