Michelin reports growth amid reorganisation, high materials costs

Clermont-Ferrand, France – Groupe Michelin has reported growth both in operating income and sales during 2017, despite currency and raw materials headwinds as well as the launch of a major reorganisation.

The French group’s net sales stood at €21.9 billion for the year, up 5.0% from 2016, according to a company press release 12 Feb.

This was attributed to a number of factors, including a €543-million increase from the 2.6% growth in volumes and a €668-million or 3.2% increase from the “favourable price-mix effect”.

Consolidated operating income from…

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