Michelin awaits nothing any more but one operating margin ranging between 7 and 7,5%. ( Finance Information City )
Michelin is careful. Without saying it, the manufacturer reduced his forecast of operating margin. “The evolutions noted since the beginning of October represent more marked degradation of the request in the majority of the countries of Europe and of North America”, explains the manufacturer. “If this tendency were to be confirmed during December and November, the operating margin, before nonrecurring elements, would range then between 7% and 7,5%”. Michelin counted until now on an operating margin close to 8,6%.
In addition, the group published this Wednesday a turnover in fold of 1,1% over the first nine months of the year, because of the “very strong negative impact of rates of exchange, taking into account in particular the depreciation compared to the euro of the American dollar, the British book and the Mexican peso”. The incomes of the group thus rose to 12,45 billion euros.
Except exchange bills, the turnover increased by 4,5% during the first three quarters of the year. At the time of the only third quarters, the incomes (4,2 billion euros) of the manufacturer increased by 0,7% and 5,1% with fixed exchange rate. The negative impact of the exchanges was reduced between July and September, “with the favour in particular of the relative increase in the American dollar compared to the euro”.
In volume, the sales of the manufacturer were registered in rise of 1,4% in volume over the first nine months of the year. They remained stable between July and September, in spite of the strong recent degradation of the markets European and North-American.
Lastly, the price effect was important, in particular with the third quarters, “reflecting implementation the progressive of price increases on all the products and everywhere in the world”. And “this effect should be still reinforced during the next months”.
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