2020

  • Chiffres clés

    €20.5bn sales

  • Chiffres clés

    €1.9bn segment operating income

  • Chiffres clés

    €625m net income

  • Michelin in figures

  • Sales
  • Workforce
  • Production
  • R&D
  • Distribution
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)

22,028 2018
24,135 2019
20,469 2020
4,318 6,378 11,332 2018
5,836 6,448 11,851 2019
4,993 5,373 10,103 2020

Segment operating income (in € million)

2,775 2018
3,009 2019
1,878 2020
868 612 1,285 2018
1,091 597 1,321 2019
737 302 839 2020

Segment operating income (as a % of sales)

 

 

12.6% 2018
12.5% 2019
9.2% 2020
marge-operationelle_2020_EN

Net income (in € Million)

1,660 2018
1,730 2019
625 2020
agro

Per share data

Basic earning per share (in €)

9.30 2018
9.69 2019
3.52 2020

Dividend per share

2.3€*

Yield

2.2%*

 

* Subject to approval by the Annual Shareholders Meeting of May 21, 2021.

 

Cost structure

  • Chiffres clés

    €6bn employee benefit costs

  • Chiffres clés

    €3.8bn raw materials costs

  • Chiffres clés

    €646m R&D costs (3.2% of sales)

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

repartition-charges-nature-2020_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)

4,119 2018
4,763 2019
3,631 2020

Segment EBITDA (as a % of sales)

18.7% 2018
19.7% 2019
17.7% 2020

Capital expenditure (in € million)

1,669 2018
1,801 2019
1,221 2020

Capital expenditure (as a % of sales)

 

7.6% 2018
7.5% 2019
6.0% 2020

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

2020

Net debt
€3,531M
Net debt-to-equity ratio
28%
Net debt-to-ebitda ratio
0.97
ROCE (2016-2020 plan)*
8.6%

* ROCE measures the profitability of the capital employed by the group (details of the calculation in chapter 3.6 of the 2019 annual results guide).

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