Tires, Products and Travel services
- United Arabians Emirates
- Burkina Faso
- Central African Republic
- Ivory Coast
- Saoudian Arabia
- South Africa
- Sri Lanka
Net Sales for the Period Ending March 31, 2013
Michelin announces €4.9 billion in first-quarter 2013 sales, in line with its full-year outlook
- Market environment was weak in Europe in Passenger car & Light truck tires, disappointing in North America and expanding in the new markets.
- Volume performance reflected:
- The two fewer business days.
- The difference in market trends between the mature and the growth regions.
- The decline in original equipment demand, notably in the Earthmover segment.
- A negative price-mix, due to:
- The impact of indexation clauses as raw materials costs decline.
- The carefully managed price repositioning, targeted on certain tire sizes.
Outlook for 2013
In a market environment that is weak in mature regions and expanding in the new markets, Michelin confirms its objective of stable volumes in 2013, taking advantage of its global footprint.
The decline in raw materials prices should have around a €550 million favorable impact on full-year operating income. If so, this would amply exceed the around €300 million price-mix impact.
As indicated in February, the capital expenditure program, totaling some €2 billion, will support Michelin’s ambitious growth objectives by adding new production capacity in the new markets. It is also designed to improve competitiveness in mature markets and drive technological innovation.
In this environment, Michelin confirms its objectives for 2013, when it expects to report stable operating income before non-recurring items, a more than 10% return on capital employed and positive free cash flow.
Financial Information for the Quarter Ended March 31, 2013
Last update: April 22, 2013
|Net Sales (in € Millions)||1stQuarter 2013||1st Quarter 2012||% Change|
|Passenger Car and Light Truck Tires and Related Distribution||2,582||2,760||-6.5%|
|Truck Tires and Related Distribution||1,477||1,604||-7.9%|
Facts & Figures
Markets at end of April 2013
Last update: May 16th, 2013