Michelin : Conviction further strengthened
>H2 much better than expected, conservative guidance as always and € 1bn SBB - Michelin’s Q4/H2 2023 earnings substantially beat expectations (+9% for EBIT H2, +10% for FCF) despite a sharp decline in volumes (-7.4% in Q4), still more than offset by the price/mix – which was better (+1.5%) – and thanks to better performances in passenger tyres and trucks which more than offset greater weakness in specialties. In terms of the outlook, the group nonetheless remains cons...
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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