Michelin’s posted revenue down 20.6% yoy, with the passenger car and truck segments driving the contraction (-22.3% yoy and -23.3% yoy, respectively), though in line with the global tyre market. Consequently, operating income fell to €177m (margin of 1.9% vs. 11.4% in H1 19), though benefiting from a favourable price-mix, and lower raw material prices and general & admin. costs. As for the FY20 outlook, Michelin expects to match the global market, volume-wise, and to reach a se
28 Jul 2020
Replacement market and speciality segment limiting lower volume impact
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Replacement market and speciality segment limiting lower volume impact
- Published:
28 Jul 2020 -
Author:
David Chaucayanqui -
Pages:
3
Michelin’s posted revenue down 20.6% yoy, with the passenger car and truck segments driving the contraction (-22.3% yoy and -23.3% yoy, respectively), though in line with the global tyre market. Consequently, operating income fell to €177m (margin of 1.9% vs. 11.4% in H1 19), though benefiting from a favourable price-mix, and lower raw material prices and general & admin. costs. As for the FY20 outlook, Michelin expects to match the global market, volume-wise, and to reach a se