Michelin (FRA:MCHA)
€ 30.52 -0.29 (-0.94%) Market Cap: 21.70 Bil Enterprise Value: 25.85 Bil PE Ratio: 11.69 PB Ratio: 1.24 GF Score: 77/100
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Q3 2020 Compagnie Generale des Etablissements Michelin SCA Corporate Sales Call Transcript

Oct 22, 2020 / 04:30PM GMT
Release Date Price: €23.71 (+0.68%)
Operator

Ladies and gentlemen, welcome to the Michelin Conference Call. This conference call will be conducted by Mr. Florent Menegaux, Chief Executive Officer; and Mr. Yves Chapot, General Manager and Group CFO. You are able to download the presentation from Michelin Corporate website.

I now hand over to Florent Menegaux and Yves Chapot. Gentlemen, please go ahead.

Florent Menegaux;nÃ;rale des Ã;tablissements Michelin SociÃ;tÃ;en commandite par actions;CEO
Compagnie GÃ;Managing General Partner & Managing Chairman

©©©©- -

Ladies and gentlemen, good evening. I'm very pleased to have the opportunity to share with you our sales for the third quarter of 2020. Overall, at the end of September 2020, our sales land at EUR 14.9 billion, down 15% at constant exchange rate versus the previous year. With the Q3, which has been better than what we expected, with sales down 5% at constant exchange rates. Of course, after the, let's say, the peak of the crisis during

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