Member access

4-Traders Homepage  >  Shares  >  Euronext Paris  >  MICHELIN    ML   FR0000121261

MICHELIN (ML)

1811
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll news 

MICHELIN : Reaffirms 2012 Guidance As First-Quarter Revenue Rises

04/23/2012 | 12:33pm US/Eastern

French tire manufacturer Cie Generale des Etablissements Michelin (ML.FR) Monday said it expects a clear increase in operating income this year despite flat sales in volume terms and predicted that price increases will amply offset an estimated EUR300 million to EUR350 million additional cost of raw materials.

The company, one of the world's leading tire makers, also reported an increase of 5.1% on the year in revenue in the first quarter of this year to EUR5.30 billion, despite a fall of 9.6% in volume sales.

Michelin said that price increases introduced last year and contractual price adjustments, together with more sales of higher-value tires, had more than offset the drop in volume sales.

"Michelin confirms its objective of stable sales volumes over the full year, in a market environment that is more uncertain in Europe, resilient in North America and more vigorous in the growth regions," the company said.

"Sustained price management in response to rising raw materials should amply offset their additional cost impact, which is still estimated at EUR300 million to EUR350 million for the year."

Michelin reaffirmed its 2012 objectives of reporting a "clear increase" in operating income and positive free cash flow, before the impact of the sale of real-estate in central Paris this year that has generated a capital gain of EUR100 million.

Michelin's first-quarter revenue came in above an average estimate of EUR5.15 billion among a panel of 12 analysts polled by the company.

-By David Pearson, Dow Jones Newswires; +33 1 4017 1740; david.pearson@dowjones.com

Latest news on MICHELIN
1h ago MICHELIN : Fraiche take on food wins restaurant top accolade ; Michelin-starred ..
3h ago Business events scheduled for Wednesday
10h ago MICHELIN : Gastronomic delights from Provence-Alpes-Côte d'Azur
13h ago MICHELIN : Americas Truck Tires Unveils X Multi Energy T
1d ago MICHELIN : Names Bay Area Bib Gourmands
2d ago MICHELIN : Life in the fast lane as top chef Michael gives F1 team winning edge
3d ago MICHELIN : ACCORDING TO YOU ; We asked you for your favourite Indian restaurants..
4d ago MICHELIN : Organic industry leaders confirmed for Nordic Organic Food Fair 2014
5d ago MICHELIN : honour for pub duo
5d ago MICHELIN : Safe bet for good honest food and great value ; DINING OUTAhead of it..
Advertisement
Chart
Duration : Period :
MICHELIN Technical Analysis Chart | ML | FR0000121261 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF