Results and sales All financial information of the Group Imprimer 2022 3rd QUARTER AND 9 MONTH SALES Webcast of the Analyst / Investor Conference on October 25, 2022 Documents to download 10/25/2022 | PDF - 300.82 Ko Financial information at September 30, 2022 10/25/2022 | PDF - 6.11 Mo 2022 3rd Quarter and 9 Months Sales Presentation 10/14/2022 | PDF - 405.74 Ko Quarterly Sales Information ending September 30th, 2022 – Conference call invitation Nine-month sales rose by 20.5% to €20.7 billion. In a highly inflationary environment, 2022 full-year guidance is confirmed for operating income and adjusted for structural free cash flow. In a market environment shaped by continuing operational disruptions, widespread inflation and limited visibility as to future demand, Michelin delivered growth in sales and is steering operations to ensure adequate inventory levels. Nine-month markets remained on an upward trend: End-user demand (sell-out) held firm in most regions and markets. As regards sell-in demand, Passenger Car & Light Truck tire markets grew by 1.4%, lifted by a third-quarter recovery in Original Equipment (OE) demand, mainly in North America and China; Replacement (RT) markets remained stable, with a mix temporarily impacted by rising imports from Asia. Truck tire markets -excluding China- expanded by 6.0% with an acceleration in the third quarter. Specialty tire markets remained robust in all segments except Agricultural and Construction in the third quarter; demand remains strong in Mining. Consolidated sales for the nine months ended September 30, 2022 came in at €20.7 billion, up 20.5% year-on-year, including a 6.5% positive currency effect: A 13.4% gain from price increases, reflecting the Group’s policy of systematically passing on cost inflation factors and the growing impact of price indexation clauses. A 0.9% increase from the mix effect reflecting growth in the Passenger Car 18-inch and larger segment and in Mining, partially offset by an adverse OE/RT mix effect in the Automotive business. A 2.4% decline in volumes, mostly due to the exit from Russia and lockdowns in Chinese cities, amid persistent operational disruptions. A 1.0% gain from changes in scope, mainly reflecting the consolidation of Allopneus.com. Non-tire sales grew by 22% accounting for 1.1% of consolidated sales growth, demonstrating the validity of the ongoing Michelin in Motion Group strategy. Full-year guidance Market projections for Passenger Car and Light Truck tire markets are expected to end the year between +2% and -2%, Truck tire markets (excluding China) to expand by between 2% and 6%, and Specialty tire markets to grow by between 3% and 7%. Within this scenario, full-year guidance is confirmed for segment operating income above €3.2 billion at constant exchange rates, and adjusted to €0.7 billion for structural free cash flow[1]. [1] Structural free cash flow corresponds to free cash flow before acquisitions, adjusted for the impact of changes in raw material costs on trade payables, trade receivables and inventories. First-Half 2021 Results 07/26/2022 | PDF - 340.59 Ko Financial information at June 30, 2022 07/26/2022 | PDF - 6.81 Mo First-Half 2022 Results Presentation 07/26/2022 | PDF - 11.96 Mo First-Half 2022 Financial Report Acces to the webcast 2022 1st quarter sales 04/26/2022 | PDF - 282.71 Ko Financial information at March 31, 2022 04/26/2022 | PDF - 6.91 Mo First Quarter 2022 Sales Presentation Acces to the webcast 2021 annual results 02/14/2022 | PDF - 582.91 Ko Financial information at December 31, 2021 02/14/2022 | PDF - 8.42 Mo 2021 Annual results Presentation 02/14/2022 | PDF - 19.64 Mo 2021 Annual results Guide Acces to the webcast Financial key figures Financial publications Capital Markets Day Read more Investor Relations contacts Read more