Michelin : Determination intact (and reassuring) in the face of inflation
>Some good and some not so good but guidance largely backs consensus - Michelin has published 2021 earnings that came broadly in line with expectations despite a less solid performance than anticipated in specialty tyres (temporary squeeze linked to indexation clauses) offset by a stronger passenger business. Beyond this, and particularly after Nokian Tyres and Goodyear releases, focus was above all on the group's capacity to fully offset the inflationary environment....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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