Michelin (LTS:0OFM)
€ 30.7 -0.11 (-0.36%) Market Cap: 21.70 Bil Enterprise Value: 25.85 Bil PE Ratio: 11.57 PB Ratio: 1.22 GF Score: 77/100
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Full Year 2023 Compagnie Generale des Etablissements Michelin SCA Earnings Call Transcript

Feb 12, 2024 / 05:30PM GMT
Release Date Price: €30.79 (-0.65%)
Florent Menegaux;nÃ;rale des Ã;tablissements Michelin SociÃ;tÃ;en commandite par actions;CEO
Compagnie GÃ;Managing General Partner & Managing Chairman

©©©©- -

Good evening. Yves Chapot and myself are very happy to welcome you to our 2023 Annual Results Presentation. And as you are going to see them, our results are very solid.

I'm very pleased to report that Michelin has delivered a high segment operating income despite adverse market conditions and currencies. We have been demonstrating, again, the quality of our business model while improving people engagement and accelerating our sustainability road map. If this reflects our group strategy to capture the full value of our differentiated offer and solutions that are designed to meet increasingly demanding customer requirements. Our sales have been flattish at EUR 28.3 billion, but they were up 2% at constant exchange rates, with mix and price offsetting unfavorable market conditions. Our non-tire sales were up 10%.

So if we

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