Analysts Forecast Growth Of The Michelin’s Profit
Posted on October 18, 2009
Filed Under Continental Tires, Michelin Tires, Pirelli Tires
The majority of financial analysts forecast growth of the Michelin’s profit after the revival of the international market as well as the growth of sales of premium-class tires in 2010.
According to the statement of the Deutsche Bank (one of the leading German banks) in spite of considerable negative outer influence the leading tire producers appeared to be “very consistent” in 2009. It means that they corrected price formation policy in time, took the advantage of the decrease of raw material cost (in the second half-year) and successfully distributed the production of primary and secondary tires.
The analysts also believe that the sales volume in the following year will considerably increase if to compare with the current extra-low level. It is reported that the Michelin company will have maximum profit, the Pirelli company will be ranked as the second. At the same time the profit of the Continental company will be the least in the segment of the tires that provide only 30% of the company’s revenue.
Current sales of the manufactured tires have been a lot worse than those of new tires that had been previously stored at the stocks of dealers and wholesale sellers. Looking in the future the analysts of the German bank hope that the sales volume of new tires will rise in 2010 by 6 – 8% after the 13 – 15% decrease in 2009. The increase can be even bigger but it still will be lower by 15 – 17% than the rate of 2007.
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