Michelin (LTS:0OFM)
€ 30.38 -0.32 (-1.04%) Market Cap: 21.51 Bil Enterprise Value: 25.66 Bil PE Ratio: 11.57 PB Ratio: 1.22 GF Score: 77/100
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Full Year 2019 Compagnie Generale des Etablissements Michelin SCA Earnings Call Transcript

Feb 10, 2020 / 05:30PM GMT
Release Date Price: €26.63
Operator

Ladies and gentlemen, welcome to the Michelin (inaudible) annual results conference call.

I now hand over to Mr. Florent Menegaux, CEO; and Mr. Yves Chapot, General Manager and Group CFO. Gentlemen, please go ahead.

Florent Menegaux;nÃ;rale des Ã;tablissements Michelin;CEO
Compagnie GÃ

©©-

Ladies and gentlemen, good evening. I'm very pleased to welcome you tonight for results presentation.

Let me just start by expressing the challenge in the environment we have seen in 2019. We have clearly seen, in 2019, a shift in the mindset of most people around the world around several issues. The first one is the climate change. It is obvious that something is happening, and we saw that with extensive fires in California and then Australia, with storms, hurricanes and tsunamis of any kind of sort. And what is new is not that this things did not happen before, it's the frequency has increased a lot. And now it's impacting heavily everywhere.

And the second thing we have observed in

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