Michelin: Strong euro holds back Q1 2018 turnover

24th April 2018 | 0 Comments

Blame for a -6.3 per cent decline in net sales during the first quarter of 2018 goes to the stronger euro, reports the Michelin Group. The tyre maker achieved total net sales of 5.2 billion euros in the three months to 31 March 2018, an amount that represents a 1.4 per cent improvement – had exchange rates remained constant. However, with currency effects of 7.7 per cent, Michelin was unable to match the 5.6 billion euros earned in the opening quarter of last year.

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