3rd quarter and 9 months sales
Michelin announces sales of €15 billion for the first nine months of 2020, down 15% at constant exchange rates, with a decline of 5% in the third quarter reflecting an upturn in business. The Group is revising its guidance for 2020 upwards.
Supported by its diversified offering, engaged employees and robust financial position, Michelin is demonstrating its resilience through a crisis that is as intense as unprecedented.
1st quarter sales
In the first quarter of 2020, at a time of systemic crisis due to COVID 19, Michelin saw an 8.3% decline in sales and deployed the measures needed to attenuate the impact of the crisis on employee health and the Group’s business.
2019: €3,009 million in segment operating income, up €179 million or 6.5% at constant exchange rates €1,730 million in net income, up €70 million €1,615 million in structural free cash flow
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