OEM tyre demand for passenger cars has continued weakening in the last months but the replacement demand for all sorts of tyres weakened as well. Overall, Michelin reports about a 0.9% volume decline, but this was compensated by a positive price-mix (+1.7%) and currency effects (+1.9%). In addition, takeovers (Camso and Fenner) contributed another 8.5% to consolidated revenue growth of 11% to €11.8bn.
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
€63m of impairment charges burdened earnings
- Published:
26 Jul 2019 -
Author:
Hans-Peter Wodniok -
Pages:
2
OEM tyre demand for passenger cars has continued weakening in the last months but the replacement demand for all sorts of tyres weakened as well. Overall, Michelin reports about a 0.9% volume decline, but this was compensated by a positive price-mix (+1.7%) and currency effects (+1.9%). In addition, takeovers (Camso and Fenner) contributed another 8.5% to consolidated revenue growth of 11% to €11.8bn.