Michelin: 9m sales reach 16.2 billion euros
(CercleFinance.com) - On Thursday evening, Michelin reported net sales of 16.
2 billion euros over the first 9 months of 2018, down 1.1% from 16.394 billion euros for the same period in 2017. However, sales were up 3.9% at constant exchange rates, driven by a "robust price mix effect of +2.2%".
In Q3 alone, revenue came in at 5.615 billion euros, up 5.2%.
The group now expects: "A slight increase in volumes over the full year. Fourth-quarter performance will be driven by sustained market share gains in the 18-inch and larger segment of the Passenger car and Light truck business and in the Specialty markets. Full-year volumes will be affected by the major price increases already introduced to offset the sharp currency depreciation in emerging markets."
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