- Weak demand in mature markets in an unfavorable economic environment, especially in Europe.
- Sales volumes down 6.7%, as expected, on more favorable prior-year comparatives.
- Stable tonnage since Q4-2011.
- Price-mix still positive, despite the contractual adjustments on July 1, particularly in the Earthmover business
Outlook for full-year 2012
As a result, Michelin confirms its guidance for full-year 2012, i.e. a clear increase in operating income before non-recurring items, with a 5% decrease in full-year sales volume, and around a €200-300 million favorable impact from raw materials in second half.
After around €2 billion in full-year capital expenditure, but before the impact of the sale of a property complex in
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This press release is not an offer to purchase or a solicitation to recommend the purchase of Michelin shares. To obtain more detailed information on Michelin, please consult the documents filed in France with Autorité des Marchés Financiers, which are also available from the www.michelin.com website.
This press release may contain a number of forward-looking statements. Although the Company believes that these statements are based on reasonable assumptions as at the time of publishing this document, they are by nature subject to risks and contingencies liable to translate into a difference between actual data and the forecasts made or inferred by these statements.