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
In a more difficult than expected environment, segment operating income up 8% to €1,438 million. Rigorous price mix steering and competitiveness plan management. Contribution of acquisitions as expected. Guidance confirmed with a lowered market scenario.
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.
3rd quarter and 9 months sales
Sales up 1.3% like-for-like in the first nine months of 2019, in an environment that deteriorated sharply over the period. Contribution from acquisitions in line with expectations. Fourth-quarter market forecasts lowered; guidance confirmed.
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