(Boursier.com) — Michelin has just published a turnover higher than analysts’ expectations in the first quarter, at 6.5 billion euros, against 6.31 billion euros of consensus. Sales thus posted growth of 19%, with a favorable parity impact of 3.4%. In 2022, in a very uncertain context, the markets should show slight growth, in the lower part of the ranges initially forecast: between 0% and + 4% in Passenger cars and light trucks, from +3% to +7% in Trucks (excluding China), between +6% and +10% for Specialty businesses.
In this scenario, excluding the intensification of systemic effects, Michelin maintains its guidance with annual segment operating income above €3.2 billion at constant exchange rates and structural free cash flow above €1.2 billion.
©2022 Boursier.com