Michelin: Q1 sales down 8.3%
(CercleFinance.com) - Sales came in at 5,327 million euros in the first three months of 2020, down 8.
Sales for the automotive and related distribution business reached 2,597 million euros, down 6.9% y-o-y. At end-March, sales for the Road Transport and Associated Distribution business were 1,360 million euros, down 12.3%.
Specialty and associated distribution business was 1,370 million euros, down 6.9%.
Note that on 28 April 2020, Michelun had cash and cash equivalent of 2.3 billion euros and confirmed undrawn credit lines of 1.5 billion euros.
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