Michelin : Un statut parfaitement assumé
>Un T1 solide et supérieur aux attentes, notamment sur le prix-mix - Michelin a publié, hier soir, un CA T1 20 supérieur aux attentes (+3%) et déjà marqué par une forte baisse des volumes (-11.7%) telle que les publications mensuelles l’avaient suggéré (et avant un T2 encore plus difficile). Toutefois, nous notons le prix-mix solide (2.0%) et le message plus que rassurant du management sur ce point, a fortiori dans le contexte de chute des cours des matières premières...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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