Michelin : Lower volumes but no drama, price/mix and FX to save the day (year)
>Adj. EBIT revised slightly up, we’re still above consensus expectations - Overall, August market figures are globally positive and still look within the updated market scenario provided by Michelin at the H1 stage (-2/+2% in passenger tires, +2/+6% in truck tires excluding China and +4/+8% in specialty tires), but the high number of imports (notably in North America) and growth in less strategic markets suggest “real” volumes for Michelin might be lower at the end.§r...
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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