Michelin: sales down, forecasts unchanged

(CercleFinance.com) - Michelin reports that total Q1 sales reached E6,642m, down 4.
6% y-o-y, due to lower volumes, as expected.

In detail, sales fell by 2.4% in the Automotive division (to E3,376m), by 6% in the Road Transport segment (to E1,595m) and by 7.6% in Specialty Businesses (to E1,671m).

The group maintains its forecast scenario for sell-in markets, with annual sales volumes of -2% to 0%.

In addition, the 2024 guidance remains unchanged, with operating income for the sectors in excess of E3.5bn at constant exchange rates, and free cash flow before acquisitions in excess of E1.5bn.


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