Michelin’s revenue was up by 0.3% to just above €22.0bn in the last year (+4.1% currency-adjusted), but the profit numbers were down. EBIT fell by 7% to €2.55bn and net earnings by 1.4% to €1.68bn. We had expected higher profit numbers (€2.69bn and €1.83bn). The dividend is raised as expected from €3.55 to €3.70. Today’s very positive share price reaction shows that the market was expecting much weaker numbers.
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Profits only slightly down in 2018
- Published:
12 Feb 2019 -
Author:
Hans-Peter Wodniok -
Pages:
2
Michelin’s revenue was up by 0.3% to just above €22.0bn in the last year (+4.1% currency-adjusted), but the profit numbers were down. EBIT fell by 7% to €2.55bn and net earnings by 1.4% to €1.68bn. We had expected higher profit numbers (€2.69bn and €1.83bn). The dividend is raised as expected from €3.55 to €3.70. Today’s very positive share price reaction shows that the market was expecting much weaker numbers.