Michelin : Story still by no means over, upside remains significant
>More favourable momentum at year-end… and also in 2022 - While tyre market figures for December will not be known until mid-January, October and November monthly releases reinforced our view that the year-end would be better than expected for the tyre maker, for both volumes therefore, but also on other fronts (mix, pricing, FX). Against this backdrop, we shade up our estimates for 2021 (+1.5%) and adopt an even more optimistic stance on 2022, which now puts us 7% ab...Compagnie Generale des Etablissements Michelin is active in the tire and mobility-related service markets. Co. manufactures, distributes and sells tires for all kinds of vehicles, publishes maps and guides and operates a number of services. Co.'s operates in three segments: Passenger car/Light truck tires and related distribution; Truck tires and related distribution and Specialty businesses segment including tires for specialty vehicles and maps and guides. Co. distributes its products through two tire distribution networks: Euromaster (Europe) and TCI (U.S.A.) and its brands include Michelin, BFGoodrich, Kleber, Uniroyal, Warrior, Kormoran, Riken, Taurus and Tigar.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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