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You are here: Home1 / News2 / Product News3 / Analysts: Michelin H1 Results “Good”

Analysts: Michelin H1 Results “Good”

Date: 30th July 2007 Author: Tyrepress Editors Comments: 0

Despite reporting first half operating profits below analysts’ estimates, (860 million euros, up 34 per cent instead of 910 million euros, up 41 per cent), Deutsche Bank has described Michelin’s first half financials as “good.” They see the difference as mostly attributable to adverse raw material price fluctuations between semesters and as a result are predicting a better than expected second half. Therefore the bank has left its full-year operating profit projections for the company at 1.72 billion euros, up 30 per cent, which equates to a high 10 per cent of sales.

Looking further ahead, the analysts pointed to the 19 per cent margin achieved by Michelin’s specialty tyres division, which was loss making four years ago. According to the analysts, this is a “good indication of what truck tyres can achieve in the future.”

Related news:

  1. More Details on Michelin’s Efficiency Improvement Plans
  2. Michelin Denies Trenco Interest
  3. ‘Wind of Change’ Blowing at Amtel
  4. Michelin to Cut Production at North American Plants
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analysts, Deutsche Bank, financials, Michelin, results, truck tyres

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