Oddo BHF - COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN (ML) Michelin : Un début d’année conforme aux prévisions

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Oddo BHF

Anthony Dick ...

Michael Foundoukidis

Michelin : Un début d’année conforme aux prévisions

>CA T1 en ligne, volumes en nette baisse, prix/mix toujours positif - Michelin a publié, hier soir, un CA T1 2024 de 6 642 M€ en baisse de 5% (-3% hors devises), en ligne avec les attentes (6 679 M€, ODDO BHF 6 613 M€). Comme attendu, l’impact volumes est ressorti négatif en ce début d’année (-4.1%, consensus à -3.4%), toutefois en net progrès séquentiel (-7.4% au T4 2023), et le prix/mix est resté robuste (+0.7% vs consensus à +0.4%), le mix (+1.6%) compensant l’effe...

25/04/2024 1 FR

Underlying

COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN

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FR001400AJ45 Euronext Paris France

Provider

Oddo BHF

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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Analysts

Anthony Dick

Michael Foundoukidis

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>Q1 sales in line, volumes down sharply, price/mix still positive - Yesterday after trading, Michelin reported Q1 2024 sales of € 6,642m, down 5% (-3% at constant exchange rates), broadly in line with expectations (€ 6,679m, ODDO BHF € 6,613m). As expected, volumes were down at the start of the year (-4.1%, consensus -3.4%), even though they already showed a clear sequential improvement (-7.4% in Q4 2023), while the price/mix component remained robust (+0.7% vs consen...

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Michelin : Un début d’année conforme aux prévisions

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/25/2024

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 25/04/2024

Michelin : Start to the year broadly in line

Oddo’s 2 Weeks Ahead_Friday 03 May 2024

Credit Morning 05/03/2024

Morning Crédit 03/05/2024

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