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…