Fewer tyres, more money – Michelin publishes financial results
Despite a “complex market environment” the Michelin Group achieved “solid sales” in the past nine months, as chief executive officer Florent Menegaux emphasised yesterday when presenting the company’s latest financial information. According this Q3 2023 report, Michelin increased its sales by 2.0% to €21.15 billion in the first nine months of this year. This growth was driven by rising sales in the company’s Automotive and Specialty Businesses segments, which respectively increased 3.6% and 5.4% year-on-year. Sales within Michelin’s truck tyre business, its Road Transportation segment, were 4.3% lower.