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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Q1 2023 Compagnie Generale des Etablissements Michelin SCA Corporate Sales Call Transcript

Apr 26, 2023 / 04:30PM GMT
Release Date Price: €28.15 (+0.68%)
Operator

Ladies and gentlemen, welcome to the Michelin conference call. I now hand over to Mr. Yves Chapot, General Manager; and Group CFO. Gentlemen, go ahead.

Yves Chapot;nÃ;rale des Ã;tablissements Michelin SociÃ;tÃ;en commandite par actions;Managing Partner
Compagnie GÃ;GM & CFO

©©©©- -

Hello. Good evening, everyone. So I'm very pleased to welcome you for this quarterly self disclosure. I will start directly by the key message. Although we have been operating in a weak market, overall, our sales were up by 7.4% during the quarter, thanks particularly to our premium positioning. During our last publication, in February, we have announced that we are anticipating lower sales selling markets in Q1 2023. As the first quarter of 2022 was characterized by strong inflation and supply disruptions exacerbated at the end of the quarter by the conflict in Ukraine. On the other hand, in 2023 as supply chain has improved, we have observed that the distributors tend to

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