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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Q1 2020 Compagnie Generale des Etablissements Michelin SCA Corporate Sales Call Transcript

Apr 29, 2020 / 04:30PM GMT
Release Date Price: €22.48 (+3.14%)
Operator

(foreign language)

Yves Chapot;nÃ;rale des Ã;tablissements Michelin SociÃ;tÃ;en commandite par actions;Managing Partner
Compagnie GÃ;GM, Chief Administrative & Financial Officer

©©©©- -

Okay. So ladies and gentlemen, sorry for this interruption, which was due to a technical problem out of our reach. So I was commenting the Slide 3. So we have seen in the Q1 a sharp decrease of the road market: both in passenger car and light truck, by 15%; in trucks, 17%; and specialties have been a bit more contrasted with some sector that has been heavily impacted, such the aviation and some domain that are more resilient, such surplus mining and agriculture replacement.

In this context, our sales have been down by 8.3%, reflecting a contraction of our volume by 11.7% on the quarter, but by 21% on the sole month of March. I remind you that, for example, in Western Europe, most of the countries went to isolation, to lockdown from mid-March.

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