Michelin: 9m sales up 2%
(CercleFinance.com) - Michelin has announced that its 9m sales totalled E21.
2bn, up 2% y-o-y, despite low volumes and an unfavourable FX effect.
The Michelin Man points to an improved mix, non-tyre activities and brand leadership.
It says that it posted solid sales in a complex market environment. It is closely monitoring its operations and constantly adapting to changes in the market. Once again this constant agility and anticipation demonstrates the its resilience and determination to successfully implement the Michelin in Motion strategy, management said.
Against this backdrop, the Group's 2023 guidance has been confirmed for operating income at constant exchange rates (above E3.4bn) and raised for free cash flow before acquisitions, to more than E2.3bn (vs. above E2bn previously).
Copyright (c) 2023 CercleFinance.com. All rights reserved.
2bn, up 2% y-o-y, despite low volumes and an unfavourable FX effect.
The Michelin Man points to an improved mix, non-tyre activities and brand leadership.
It says that it posted solid sales in a complex market environment. It is closely monitoring its operations and constantly adapting to changes in the market. Once again this constant agility and anticipation demonstrates the its resilience and determination to successfully implement the Michelin in Motion strategy, management said.
Against this backdrop, the Group's 2023 guidance has been confirmed for operating income at constant exchange rates (above E3.4bn) and raised for free cash flow before acquisitions, to more than E2.3bn (vs. above E2bn previously).
Copyright (c) 2023 CercleFinance.com. All rights reserved.