Michelin : A robust start to the year, further validating the value over volumes strategy
>EBIT better than expected in H1 thanks to value focus & costs & despite volumes - Michelin’s H1 2024 came out better than expected (+4% for EBIT, FCF at € 659m vs € 502m), despite weak volumes (-4.4%) but thanks to a still robust price/mix effect (+1.1%, of which a +1.9% mix effect), reflecting a strategy deliberately focused on value over volumes. This applies particularly to the Truck business, which was the main reason for the beat (operating margin of 9.2% vs 6.6...
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.