Michelin to Report Q3 Increase of 4.5%
Michelin is to report a sales increase of 4.5 per cent when the French manufacturer hosts a quarterly conference call this evening. Deutsche Bank analysts said the increase was entirely attributable to an improved price/mix effect. The analysts also pointed out that, with regards to EBIT, the improved price/mix effect should more than offset the “raw material price headwind” which is estimated at 80 – 90 million euros. The company is also effected to benefit from its policy of high-cost workforce reduction.