2021

  • Key figures

    €23.8bn sales

  • Key figures

    €3bn segment operating income

  • Key figures

    €1.8bn 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)

24,135 2019
20,469 2020
23,795 2021
5,836 6,448 11,851 2019
4,993 5,373 10,103 2020
5,564 6,233 11,998 2021

Segment operating income (in € million)

3,009 2019
1,878 2020
2,966 2021
1,091 597 1,321 2019
737 302 839 2020
724 599 1,643 2021

Segment operating income (as a % of sales)

 

 

12.5% 2019
9.2% 2020
12.5% 2021
marge-operationnelle-des-secteurs_2021_EN

Net income (in € Million)

1,730 2019
625 2020
1,845 2021
VEHICULE_CHARGEMENT_port_1600

Per share data

Basic earning per share (in €)

9.69 2019
3.52 2020
10.31 2021

Dividend per share

4.5€

Yield

3.1%

 

 

 

Cost structure

  • Key figures

    €6.5bn employee benefit costs

  • Key figures

    €5bn raw materials costs

  • Key figures

    €682m invested in R&D in 2021

labo

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

repartition-des-charges-par-nature_2021_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)

4,763 2019
3,631 2020
4,700 2021

Segment EBITDA (as a % of sales)

19.7% 2019
17.7% 2020
19.8% 2021

Capital expenditure (in € million)

1,801 2019
1,221 2020
1,705 2021

Capital expenditure (as a % of sales)

 

7.5% 2019
6.0% 2020
7.2% 2021

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

* incl. Zero-coupon payment interest (2017 OCEANE convertible bonds) for €193m

2021

Net debt
€2,789M
Net debt-to-equity ratio
19%
Net debt-to-ebitda ratio
0.59
ROCE*
10.3%

* ROCE measures the profitability of the capital employed by the group (As calculated in the note 3.6 of the 2021 Annual Results Guide).

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