Michelin: stock down, despite CMD
(CercleFinance.com) - Down 1% at lunchtime, the Michelin share is one of the biggest fallers in the CAC 40 index on Thursday, while the tyre maker is holding a capital markets day in Almeria, Spain.
While the issue seems to be a question of upscaling, competition is also often mentioned.
Various points are being addressed in the introductory presentation of the group's current boss, Jean-Dominique Senard and his successor Florent Menegaux. Technological innovation seems to be a central matter, as well as "a highly competitive market", the strength of brands, as well as a highly competitive environment requiring operational excellence and digitisation. However, note that the group insists on "maintaining its pricing power" and "improving its competitiveness" through restructuring and savings.
In addition, the term "premium" (high-end) has been repeated 12 times in the presentation dedicated to the group's Passenger Car division (SR1) and has been used three times in group comments on trucks (SR2).
Copyright (c) 2019 CercleFinance.com. All rights reserved.
While the issue seems to be a question of upscaling, competition is also often mentioned.
Various points are being addressed in the introductory presentation of the group's current boss, Jean-Dominique Senard and his successor Florent Menegaux. Technological innovation seems to be a central matter, as well as "a highly competitive market", the strength of brands, as well as a highly competitive environment requiring operational excellence and digitisation. However, note that the group insists on "maintaining its pricing power" and "improving its competitiveness" through restructuring and savings.
In addition, the term "premium" (high-end) has been repeated 12 times in the presentation dedicated to the group's Passenger Car division (SR1) and has been used three times in group comments on trucks (SR2).
Copyright (c) 2019 CercleFinance.com. All rights reserved.