Michelin results flat amid “challenging” environment

Clermont-Ferrand, France – Groupe Michelin has reported marginal improvements in sales and earnings for 2018 amid a “challenging” trading environment.

In an 11 Feb annual results statement, the French tire maker posted a 0.3% year-on-year growth in sales at €22.0 billion.

Sales, said Michelin, were impacted by a €838-million decrease from the “unfavourable currency effect.”

The currency impact was offset by a 0.9% – or €195 million – growth in volumes as well as a €444-million increase in “highly favourable price-mix effect.”

Operating income increased 1.2% year-on-year to €2.7…

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