Michelin kicked off its Q3 22 results with a €500m slash to the Company’s FY22 FCF outlook as “other inflators” (i.e energy, wages and logistic bills) soar. This largely overshadowed the price and FX-driven revenue figures. Volumes moved lower as expected, a trend likely to extend into the Q4, at least. Low-cost Chinese tyres started to flow onto the market during the summer, increasing worries regarding the sustainability of high prices. Lastly, the postponement of the November strategy update ....
27 Oct 2022
Q3 22: inflation hits NWC, capex sticks, FCF plunges
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Q3 22: inflation hits NWC, capex sticks, FCF plunges
Cie Gnrl des Etblsmnts Michelin SCA (ML:EPA), 0 | Cie Generale des Etablissements Michelin SA (ML:PAR), 0
- Published:
27 Oct 2022 -
Author:
Valentin Mory -
Pages:
3
Michelin kicked off its Q3 22 results with a €500m slash to the Company’s FY22 FCF outlook as “other inflators” (i.e energy, wages and logistic bills) soar. This largely overshadowed the price and FX-driven revenue figures. Volumes moved lower as expected, a trend likely to extend into the Q4, at least. Low-cost Chinese tyres started to flow onto the market during the summer, increasing worries regarding the sustainability of high prices. Lastly, the postponement of the November strategy update ....